Wang’s Happy Trading

So, we have another much-anticipated earnings coming next week: AAPL! The news of the delay of its new OS has kept some pressure on AAPL. But, the new iPhone is going to be on schedule. Then, there’s iTV, i”This”, and i”That”; plus, the endless discussion about the sales on iPod! Ok, anyway, with all that in mind, any clues from the charts?

AAPL weekly chart:

Well, the weekly chart is not a strong one, although the weekly MAs are still in their bullish formation. The MACD is sliding a bit, but, no big deal, since a strong rise would turn it around in a week. So, I think we’re on the bullish side. “Green” AAPL!

AAPL daily chart:

The daily chart is a little more interesting. AAPL fought to stay above 90 five days in a row, and, was able to go pull above it to close the week at almost 91. The daily MACD is flattening and the MFI and RSI are rising. Again, it bodes for a “green” AAPL!

So, we’ll have to watch it closely from Monday to Wednesday next week (AAPL reports after the markets close on Wednesday), and see if the charts get more bullish! Getting closer to 95 would be a good sign!