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Wednesday, December 12, 2012

AAPL - technicals

AAPL has re-gained one technical footing today.

The 5 SMA was breached. (Bullish)

The next step is the 550 area. It represents the weekly support (that frankly should not have been broken given the fundamentals and cash growth Apple will be seeing).

After 550, the next level of resistance is the high 570s via the weekly. (The 14 SMA could act as resistance, but it did not in mid-Nov, so the probability is high that it will not act as resistance this go around.)

Frankly, I can give a rats-ass about the above technicals. The only real level of resistance w/the current strong fundamentals (assuming much stronger supplier sales mean anything), is the 90 SMA (via the daily chart) around 620.

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