Use The Long Gap Pullback In Your Trading
Apple Computer (AAPL)
received a new raised price target of $70.00 from CSFB this morning.
Apple gapped up. It opened at 63.56 as if it were trying to hit 70 today.
09:54:47 (From TradersWire)
| Action | Symbol | Order Type | Setup | Stop | Current Price |
| Buy | AAPL | Market | Long Gap Pullback |
61.74 | 61.97 |
The stock could not sustain its opening momentum.
Sellers hit Apple immediately after the open. Selling was intense. The issue
broke down below the lower boundary of a gap zone. But, shortly before 10:00 AM,
Apple formed a bullish engulfing bar on its 5-minute chart. Notice, the
stochastic was also at the oversold level. We decided to buy the stock at the
market.
10:00:51
Follow up on AAPLÂ
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Have a nice afternoon session!
If you have questions, feel free to mail them to me.
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