38.2% fib ($507.33) has put a cap on China Mobile rumor rally.
Now that the markets are back to near levels before Syria scare, movement has stalled. Weakness today and current after hours trading is indicating pullback.
Tesla is putting in a descending triangle on the three minute chart. Break below $168.50 is imminent.
We should sell back down to the $945-$950 level from here.
Levels to look out for tomorrow. If we go down, watch $498.09 closely, followed by $496.24.
On August 27, quite clear that major volume support at $500, and then little buying volume support until $488. Quite clear that $488 will remain a significant support level until we see shifts in higher volume on either lower levels or higher levels. Once $498 was broken, selling volume was coming in 2x higher than buying volume. Temporary support was at...
Weak volume moved Apple down from its opening price down to $488 where it was held by significant volume.
Engulfing pattern has been very reliable since April. Additional downside expected from here.
Crucial support is breaking through. Movement down to 200 DMA should be a measured move.
Breakout either to the upside or downside incoming.
We closed under the 8 day moving average today. The last two times Apple closed under the 8 DMA ever since the $388.87 bounce, we saw an immediate bounce the very next day. There is also a trendline as support that we held today.
Stay tuned for a big move on Facebook within the next 15 minutes!
We have spent the last two days trading in a range that fills the gap from Monday's overnight move. Support levels continue to be respected by Apple, and a clear print of $500 has yet to be tested this week intraday. There was a small test today in the pre-market with a $499.99 print, but that did not last long.
Either Google places a double bottom on the daily, or we see a break down under $850. The negative divergence on RSI is not helping. Remember...stock price will tend to follow the indicator and right now things are leaning towards the downside.