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Re: stockdawg44 post# 91691

Thursday, 11/08/2012 12:21:38 PM

Thursday, November 08, 2012 12:21:38 PM

Post# of 147457
http://stockcharts.com/h-sc/ui?s=AAPL&p=D&b=5&g=0&id=p52222075526

The day it hit 705, you see how it's a black candle with a long (relative to the entire candlestick) shadow at the top and the body going from about midway down close to the low of the day? That candle indicates that the stock gapped up (open is the top of the body) and, after going up to 705 at some point, sold off and closed lower than it opened. After the few days prior of not really making much upward movement, it was pretty clear the short-term trend of "up up and away" had ended. It doesn't tell me (nor does it tell anyone) that the stock was going to soar down to 546, but it was a clear indication that the stock was going to turn down.

So, there is, in fact, such a chart.
Volume:
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Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
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