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.
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 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.
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 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.
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!
Steve: Just read the explanation of a "stick sandwich" pattern....
Posted by RichieD on 23rd of Oct 2012 at 04:48 pm
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"