Apple (AAPL) technical preview for November 19, 2014

AAPL finished the day at new record highs. This parabolic move has been going on without any significant consolidation phase during the last month. The short-term trend remains clearly up as long as price stays above $111. This level could be used as the exit for speculative long positions. The market is significantly overextended here as the 50-day moving average is roughly 10% lower, making a sudden downmove more likely. We have to respect the current trend though and avoid opening any shorts.

AAPL, daily chart (2 months):

aapl

Chart courtesy of StockCharts.com. http://stockcharts.com

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