Wednesday, May 20, 2009

Updated AAPL Chart



As you can see, the lower trendline is still intact after Wednesday's close. Original target of 140 has yet to be met, but if you entered around 120 you would still be in profit. Assuming you moved stop losses up, profit should be pretty much guaranteed at this point. If you are in this trade from 120, you should stay or get out if you want to take some profit. I would look for a move up to target still, but keep a close eye tomorrow on 123-124 level for a break of the trend. There are never any guarantees in the markets, but if 123-124 holds, it would be a good place to add on or get in if you haven't done so, but with a tight stop loss just in case. Good luck all!

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