Tuesday, 10 July 2012

Long Trade Update

Share Price Rising

This is my share trade update. As the chart below shows the share price for APPLE is currently rising and it has performed well since it broke out from the resistance level indicated on the chart.
I expect the share price to continue to rise and reach its previous all time high of $640.

There is the possibility of getting into the shares on a retrace back to the resistance area of $590 as this price should act as a support level for anyone wishing to buy at a better price.

I have moved my stop loss to $580. I have done this as I expect the $590 region to act as support so any further decline would invalidate my chart analysis and I would then want to get out preserving my capital and any potential further losses.

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