Apple to Test Yesterday's High

Jeffrey Cooper  Jul 16, 2009 10:45 am

Apple to Test Yesterday's High
 
Will another spurt target the 150 strike?
 

Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial). It's being shared here for the benefit of the Minyanville community.

Nice catapult on Apple (AAPL) on a down open. It's bleeding back into the prior day's range, tagging short term (10-minute) support, as shown on the 10-minute chart.

Note how the stock pivoted back up just above the 145 support level.


Click to enlarge


Following the explosion from red to green and a new swing high, Apple shows a pullback to test yesterday's high.

Will another spurt target the 150 strike?

Looking at the bigger picture of a close-only channel from my morning report tells another story as to the position of the stock.

                                   
Click to enlarge
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