AAPL Daily

    Posted by steve on 23rd of Oct 2012 at 03:41 pm

    AAPL - Chart Link

    AAPL rallied right to its 9 EMA yesterday where it found resistance and now has given back most of yesterday's gains. Looks like a stick sandwich pattern developing. 

    http://www.fxwords.com/b/bullish-stick-sandwich-candlestick.html

    I believe the company reports on Thursday after the close.

    so day four has to gap up above day three?

    Posted by morton13 on 23rd of Oct 2012 at 05:04 pm

    i just dont see it happening but have been wrong many times before...looks more like a bear flag to me....up day tomorrow and then lights out and look out below, btw i hope i am wrong!

    on the link you provided, and it makes little sense to me.  Claims to be a bullish reversal pattern with moderate reliability. ..the three stick bottoms defining or forming strong(?) support.  But the way I interpret the action (in lay terms, not candlestick analysis) is very different.  I view yesterday's white candle as nothing more than a one-day short covering rally that was rejected in spades yet again today (on higher volume). Obviously, the proof will be in the pudding, so I guess we'll have to see if AAPL rallies up from here tomorrow or crashes through "support".  

     

     


    Buying the AAPL stick sandwich

    Posted by steve on 24th of Oct 2012 at 09:44 am

    Buying the AAPL stick sandwich pattern near support yesterday (the proper way to trade the pattern) would have produced a quick 12 points move to the upside making for a nice trade in front of earnings or one can monitor on a 5 minute chart.

    AAPL Stick Sandwich

    Posted by nichi on 24th of Oct 2012 at 09:49 am

    Steve....only if I new the definition of Stick....yesterday.

    Richie D - exactly right.

    Posted by steve on 23rd of Oct 2012 at 05:00 pm

    Richie D - exactly right. Just have to see how things unfold as I was simply pointing out the textbook candlestick pattern that formed. Again, it's reliability is moderate and for now AAPL remains in a downtrend. Trades should be made near support with stops below on the long side if trading the pattern.  The company reports on Thursday and that trumps everything.

    thanks for that reference site

    Posted by kalinm on 23rd of Oct 2012 at 05:05 pm

    thanks for that reference site and pattern recognition Steve.  I'm always learning new things.  It seems like another part of that bottoming structure is that today's price on AAPL briefly exceeded yesterday's high.  It was close, but not quite there.  A total inside day, but on very high volume.  I'm guessing a 5-10% gap on earnings..... which way?  Ain't that the $1million dollar question.

    I love that name, "stick

    Posted by sbwoman on 23rd of Oct 2012 at 03:44 pm

    I love that name, "stick sandwich" 

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!