Key signals to watch:
- for the past 4 weeks the 1st 15 minute candle on Monday whether green or red signaled if week was green or red. In fact, even the 1st 3 minute candle of the week determined the weekly candle.
- On 3/4/13 AAPL did not extend > .72c below open price. Likewise, on fri (3/15/13) AAPL did not extend > .63c below open price. Both day’s were gap up day’s where AAPL ended up moving > $5.73 between open to close price. So on Monday, if AAPL gaps up that same pattern should prove true and it should not go > .63c – .73c below open.
- > 1.21 p/b as that signaled the selling that occurred b/w (between) 13:50 – 15:15 on fri (3/14/13). if AAPL provides a similar day to friday this could signal hod.
- from tues (3/12/13) to fri (3/15/13) 2 consecutive 15 minute red candles signaled hod. something to watch for.
key levels to watch:
- holds > 442.50 – 442 ( bullish)
- 441.41 lod on 2/28/13 gap is a good support level.
- 440.20 – 440 is key support.
- 444.23 – 445 as resist level.
- 447.87 (2/28/13 high) – 448.80 (2/20/13 low) as another resist level to watch.
- 450 – 450.25 as key resist level.
- 453.50 – 455 resist.
Bullish Scenario: inability to go > .72c below open price w/nhod’s by 9.36 that have 3MVP > 250K. needs to break > 445 by 9:45 to target 450. post 9:45 p/b’s should not result in AAPL going < open price.
Neutral Scenario: does not break above 445 or below 440 by 10:00 and no nhod’s or nlod’s post 10:45.
Bearish Scenario: rejects 445 break and goes > .72c below open price by 9.39… has to break below 442.50 by 9:45 w/o regaining > 1st 3MH. to target 440. has to break < 440 by 10:00 to target 438.50 – 437.25. Below that and it targets 435.
Gap up: > 1.86 above open price by 9:45 to show ability to move higher w/nhod’s by 9.36 – 9.39 and an inability to go > .72c below open price to signal a bullish move. a sign of reversal is a move > .75 – .80c below open price w/3MVP > 200K and an inability to close > 1st 3 minute high on 3 minute candle after going > .75 – .80c below open price signals a bearish move.
Gap down: inability to go > $1 above open price by 9:45 signals a move lower. But if AAPL does not extend > $1 below initial 3 ML and goes > $1 above initial 3MH by 9:45 w/3MVP > 250K signals a reversal to the upside using open price as stop.
DeanSTrader gut feeling: we gap up above 445 and hold above 442:50 providing a target of 450 to be in play. if AAPL closes 15 minute candle $1 above initial 15 minute candle and does not extend more than .72c below open price, then it goes to 448 – 450. However, I am not sure we will see prints above 450.25 – 451.50 as there is a LOT of resist in that level.
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