Banner
As I'm writing this post, AAPL has broken out to make an all-time high of 468.95 in after-hours trading after releasing their latest earnings report. I last wrote about AAPL on January 9th and mentioned a couple of possible scenarios. One was a pullback to re-test November lows, and the other was a run-up by market makers into earnings.
The Daily chart below shows where tonight's price was hit...above the +2 deviation level of the upward-trending regression channel which began at the June 2010 lows. When tomorrow's candle opens, it may re-test tonight's high before dropping. Near-term support would sit, firstly, at the +1 deviation level around 440, followed by this month's Volume Profile POC (yellow horizontal line) at 422.32...the next level would lie at the channel "mean" (currently at 412.35), and, subsequently, at the 50 sma (red) at 397.15.
As I mentioned in my previous post, AAPL has, so far, been unable to remain above its +1 deviation level of this channel...we'll see whether the same applies over the next days/weeks ahead, or whether it's "different this time"...with 500.00 within reach, who knows!
After-Hours Earnings Breakout in AAPL

Read more http://strawberryblondesmarketsummary.blogspot.com/2012/01/after-hours-earnings-breakout-in-aapl.html

                       

small-logoOur Featured  Bloggers represents some of the most in-depth and thought-provoking traders on the web. From Elliot Wave theory and forecasts to swing-trading strategies, and others simply showing you how to trade. You will find numerous options strategies and technical analysis on various equities, ETF's, indices, and futures as there is not shortage of material being offered by these seasoned traders.

Get Ryan's Top Six Trade Setups for Profitable Trading eBook for Free!

twitterfacebookbuttonsrss feedyoutubeemail


enter-the-shareplanner-splash-zone

part-time trader 300x250


Splash Zone Banner for Day-Trading Live Stream Top

SharePlanner Academy

SharePlanner Investment System