Stock pick for 12/20/2011
AAPL - short
Technical view: I found several similar 60 min bear flag setups. AAPL is one of them. I like to note that longer consolidation will decrease risk, but on the other side in situation like AAPL after setup we could see strong selling pace what will be daily weakness confirmation. If we won’t see stronger pace after setup then odds for false breakdown will increase. I like AAPL under 20sma 60 min and I will use stop above 200sma 60 min. Those two lines I use for trading plan. First strong daily support area is 200sma area.
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