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Tuesday, October 4, 2011

Apple and Google at important support. Amazon on the way



Apple - Above is shown first a daily and below an hourly chart. As can be seen we are at important support near 353 and break here will have long term bearish consequences for Apple and call for a much deeper decline towards at least 250.


Google - is looking top-heavy and is currently testing important support at 483.00 a clear break below here will open up the downside for a decline towards the 293 area.

Resistance is found at 500.




Amazon - is the last chart in this group. Here we are not quite a support yet, but we should soon see a test of support near 183, if this support fails to protect the downside the next obvious target will be 160 and maybe even 140.

However if 183 holds firm we could see one last rally higher towards the 255 area, but this is not my preferred count.

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