{"id":10505,"date":"2012-03-13T03:59:41","date_gmt":"2012-03-13T07:59:41","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=10505"},"modified":"2012-03-13T03:59:41","modified_gmt":"2012-03-13T07:59:41","slug":"apple-straight-up","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/03\/13\/apple-straight-up\/","title":{"rendered":"(Quick) Chart Review: Apple Straight UP"},"content":{"rendered":"<p>Apple, Inc. (AAPL) is now up an incredible 36% for the year. Even more incredible, the stock has spent much of the year rallying in nearly straight lines, straight up. This rally has been so powerful that even the major bearish reversal in mid-February looks like a blip well-contained within a strong uptrend. The small &#8220;sell on the news&#8221; after Apple&#8217;s latest product announcements (<a href=\"http:\/\/www.apple.com\/pr\/library\/2012\/03\/07Apple-Launches-New-iPad.html\" target=\"_blank\">iPad<\/a> and <a href=\"http:\/\/www.apple.com\/pr\/library\/2012\/03\/07Apple-Brings-1080p-High-Definition-to-New-Apple-TV.html\" target=\"_blank\">Apple TV<\/a>) now looks like a mere dividing line between two sharp upward trend lines. I am guessing it is not a coincidence that the shift from one trend to the next occurred right around the former intra-day high set by the bearish reversal day.<\/p>\n<p>Overall, I think the recent daily chart speaks volumes for Apple. <\/p>\n<p><center><br \/>\n<figure id=\"attachment_10506\" aria-describedby=\"caption-attachment-10506\" style=\"width: 490px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/03\/120312_AAPL.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/03\/120312_AAPL.png\" alt=\"Apple moves from one sharp uptrend to another\" title=\"Apple moves from one sharp uptrend to another\" width=\"500\" height=\"350\" class=\"size-full wp-image-10506\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/03\/120312_AAPL.png 500w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/03\/120312_AAPL-300x210.png 300w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><figcaption id=\"caption-attachment-10506\" class=\"wp-caption-text\">Apple moves from one sharp uptrend to another<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"www.freestockcharts.com\" target=\"_blank\">FreeStockCharts.com<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>Apple shareholders are now back in a happy place. That is, almost everyone holding a share is sitting on at least a penny of profit. The persistently strong buying volume despite the few strong selling days continues to suggest Apple is built to last for a while. With AAPL&#8217;s average trading volume at 1\/3 of PowerShares QQQ Trust (QQQ) and 10% of SPDR S&#038;P 500 (SPY) I cannot help but wonder whether the movement of money from lower-priced shares of other stocks to the high-priced shares of Apple is at least partially responsible for <a href=\"http:\/\/drduru.com\/onetwentytwo\/2012\/01\/26\/t2108-update-120125\/\" target=\"_blank\">the poor buying volumes on the major indices<\/a>. Hmmmm&#8230;.<\/p>\n<p>Be careful out there!<\/p>\n<p>Full disclosure: no positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apple, Inc. (AAPL) is now up an incredible 36% for the year. Even more incredible, the stock has spent much of the year rallying in nearly straight lines, straight up. This rally has been so powerful that even the major bearish reversal in mid-February looks like a blip well-contained within a strong uptrend. The small &#8230; <a title=\"(Quick) Chart Review: Apple Straight UP\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/03\/13\/apple-straight-up\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[219,62,920],"tags":[250,534,1597],"class_list":["post-10505","post","type-post","status-publish","format-standard","hentry","category-high-tech","category-technical-analysis","category-uptrend","tag-aapl","tag-apple-inc","tag-technical-analysis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>(Quick) Chart Review: Apple Straight UP - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/03\/13\/apple-straight-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"(Quick) Chart Review: Apple Straight UP - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"Apple, Inc. (AAPL) is now up an incredible 36% for the year. Even more incredible, the stock has spent much of the year rallying in nearly straight lines, straight up. This rally has been so powerful that even the major bearish reversal in mid-February looks like a blip well-contained within a strong uptrend. The small ... 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