APPLE Chart 2

APPLE - Taking A Bite Or 2, Re-visited
For Potential Long Entry

APPLE - Taking a Bite or 2, re-visited for potential long entry by DanV on TradingView.com

27 May 2013

Updates and comments

When I published this chart for potential bottom around 460-450 area to look for long entry after it gapped down following earnings announcement in January, there was no real bullish movement and hence not the trade I was looking for. However, if any did enter would have at least made small profit or break even.

However now it is possible to entertain potential long around 400 - 410 area. It has AB=CD measured move to the downside from all time high as abc correction and it could be significant. Even if this is not the final low, from the chart you can see that one down side retracement is complete, I am expecting a potential AB=CD move to the upside which could take to the vicinity of 500. If however, the recent low @ sub 400 is significant low then we might get new 5 wave move to the upside which could take us lot higher.

Worth watching in my view.

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