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Friday, June 13, 2008

Can't Resist: Way Too Ripe, Way Too Juicy (Update3)

This is an update on the post Can’t Resist Apple: Way Too Ripe, Way Too Juicy, Update1, and Update2.

I ended my last update with the following: “The AAPL chart is set to roll over. AAPL stock now looks to be in distribution mode with initial support around the $170 area followed by the $160 area.”

Apple (AAPL) rolled over and broke DOWN yesterday, falling $7.55 (4.18%) to $173.26.

Corey at Afraid To Trade analyzes AAPL across three time frames, intraday, daily and weekly in his post What’s Happening to Apple?!