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Playing the Ponzi
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Why “Playing the Ponzi”? I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is created as debt, and running straight through a global economic model that is based on infinite growth in a finite world. This won’t end well. I’d go a step... More
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Playing the Ponzi
  • AAPL Struggling At Resistnace 0 comments
    Dec 5, 2012 10:12 AM | about stocks: AAPL

    AAPL, which bounced off a support trend that has been in place since 2009, has rallied back to the underside of a major trend line resistance. Over the last 20 years, AAPL has formed a rising wedge. The stock broke to the upside of that wedge to start 2012 but has since fallen back within it - bouncing off a support trend line near the mid-point last month.

    2012-12-04-AAPL-LT_CHARTS

    A closer look shows that AAPL is currently facing resistance from both the 50 and 200 day Moving Average, along with the upper trend line of that rising wedge.

    2012-12-04-AAPL-ST_CHARTS

    It may be time to get on board with Chris Kimble's suggestion that AAPL may be on the wrong side of a very big hill… errr, tower.

    Share this:

    Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in AAPL over the next 72 hours.

    Stocks: AAPL
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