AAPL Chart “Week in Review” (6/27/14 Market Close): Breakout Attempt #1

A three-day bounce with increasing momentum (albeit very light volume, and hardly momo-stock-like), leading to an up week at the close.

Apple’s fiscal Q3 ends today (assuming everything’s just set to “Cupertino time”) and the charts might be even less “helpful” (a common phenomenon) as we get closer to that little quarterly event also known as the Apple Inc. earnings announcement. That said, let’s have a look at “the week that was” and see if there’s potential hints of clues in the charts.

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The AAPL Tree Celebrates Its First Ring!

sapling

Yes, you just knew I was gonna do that. It’s thematic!

Still small, still low on visitors, but I suppose growing, if very slowly. As always, if you like what you read enough – subject to all of those home game disclaimers – please feel free to link, retweet, follow me on Twitter, or just tell a friend (just don’t tell them there’s anything resembling actionable/authoritative stuff to be found here, of course :P).

AAPL’s done alright since I started the blog. As of a year ago, AAPL closed a bit under a split-adjusted 57 – about as far away from AAPL’s peak as is possible. So the stock’s made some progress since then. 😉

Since WordPress reminded me, I figured I’d mark the occasion with a quick post and a photo of an apple tree sapling.

Thanks for reading, and we’ll see where we are in another year.

(Photo Credit: Janet McKnight, found via Flickr – posted unedited – subject to Creative Commons 2.0 generic license)

$AAPL Chart QuickTake, 06/19/14 Market Close: “L” is for Languid

Courtesy of the Merriam-Webster online dictionary:

1
    :  drooping or flagging from or as if from exhaustion :  weak
2
    :  sluggish in character or disposition :  listless
3
    :  lacking force or quickness of movement :  slow

Which definition of the “L” forming from around June 10 or so is more appropriate? Or is it two or all three of the above?

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$AAPL Chart QuickTake, 06/18/14 Market Close: Hints of Bullish Promise?

If you’re a somewhat regular reader (thanks!), you’d know this is exactly as nuanced (or should I say bet-hedged? :D) as it sounds. Sometimes there’s a fine line between hint and mirage, and some days, you’ll get both (the smallest of windows to close out a currently-winning trade).

AAPL had a decidedly blah, underperforming day as the SPX, fueled by apparently dovish/good news from the Fed, reached a new all-time high. Meanwhile, Amazon announced its Fire Phone and ended the day up almost 270 basis points.

And yet, despite the “relative weakness” and anemic volume, AAPL put in another basically constructive day even as the short-term bear flag theory continues to loom.

Now, constructive days (like bearish days) are only that way “until they’re not”, which is understandably irritating and unhelpful. But “conflicting” reads are ever-present, and only the next significant move will tell who was right or wrong that round. Same as it ever was.

On to the typical 5-minute/hourly/daily chart treasure hunt for hints of clues.

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$AAPL Chart QuickTake, 06/17/14 Market Close: Whisper-Quiet

Get it, trading volume joke. I’ll be here all week…and for some reason I post charts pretty much all week, even though I’d said I’ll be dialing it back. Well, eventually.

Just when you thought 35M shares traded was low…AAPL couldn’t even break 30M today. My WAG, it’s a combination of AAPL being non-directional, activity in other momo names, slow news cycle, that maybe-phone from Amazon tomorrow, potential effect of the share split.

I don’t think AAPL volume will get that much lower, but who knows. In the meantime, any fragments of clues in the charts?

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$AAPL Chart QuickTake, 06/16/14 Market Close: A Very Quiet Bounce

No, I’m not saying it’s “too quiet” or that AAPL’s merely taking a break before still more selling. I know enough to know I’m not cut out for the actionable advice business (WAGs, that’s a different deal. :P)

But with volume this low (and it’s not even a holiday!), I think “very quiet” is more than appropriate. That said, let’s see if the charts hold any semi-clues today.

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$AAPL Chart Week in Review – A Stock in Search of Traction (06/13/14 Market Close)

The company seems more than fine, it’s just the stock that might be a near-term concern for bulls.

At the end of the week, AAPL’s Second Trial of Sentiment™ this summer – the 7-for-1 share split – didn’t go as well as the first (WWDC). The red weekly candle says it all.

An overextended rally? Profit-taking? Geopolitical instability in the Middle East? EU wanting more taxes from Apple? Who knows, but for whatever it’s worth, there’s always price action and charts in the never-ending search for fragments of clues.

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