Wednesday, May 16, 2007

Chart: APPL

Earlier today, I mentioned that I felt there was a good chance AAPL would hold it's rebound from the lows of the day and print a long tail at the close. Sure enough, the stock closed near it's high and looks ready for another leg higher, assuming we get confirmation tomorrow. If the stock closes above today's high, I may go long again. However, if the stock does not confirm today's close, the bullish implications of the close will be nullified, a hanging man could print, and we could see a top form.

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