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| AAPL Daily Chart |
Apple closed below the lower Bollinger band (584.49) today. It has not done that since 11/21/2011 (green arrow) when it was testing the 200 day simple moving average from above. It bounced on less than impressive (less than average) volume then. Today volume was the highest since 03/15 when the stock printed a big red candle and closed at 585.56.
The ellipse highlights the gap that just begs to be filled. The bottom of the gap is 568.18 and the 50 day is now 559. Tomorrow those figures will be even closer together (it's a math thing) and I will be watching that level very closely. It could prove to be a great buy point with a super tight stop for very small risk.
