Apple (AAPL) close August 12

APPLE shares formed a “bullish hammer” candlestick today. This gives hope for some kind of trend reversal. It is positive that AAPL broke last week’s low before starting the rebound. The daily trend remains down though. Price has crashed below the 200-day SMA (at $120 now) lately, which is long-term negative.

AAPL daily (2 months):

aapl

Chart: http://www.Stockcharts.com

Petros Steriotis