Saturday, January 22, 2011

Apple & Google Charts Not "As Sexy" (AAPL)

AAPL 3 day chart

The trend is AAPL is by no means "shattered" though that big fat red candle put in last week is something to take note of... 325-320 is the lower line in the sand i am sure many a trader is watching. Next up is 300 if those support levels fail... What struck me as so interesting psychologically and technically speaking was the price action we saw after two of arguably the most influencing tech companies in the world blow out earnings only to not move higher but move lower on volume after a flurry of negative headlines... and during OPEX week... 

GooG ex ceo Eric S. selling 355 mil shares of goog stock is not something longtime share holders want to hear a day after he announces he is stepping down from his post.... Also take into account FFIV price action... 

GOOG chart below.. notice volume ... red... 600 coming up.. line in sand.. 

Have a good night.