Don't Ignore This Chart!

Apple Forms Piercing Line in Support Zone

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Apple (AAPL) declined into its support zone with a  close below 330 on Friday. After a weak open and further weakness early Monday, the stock moved higher and closed strong to firm a piercing line. This bullish candlestick reversal is featured on the predefined scans page. Also notice that volume was the highest in four weeks.

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Announcement from the Author

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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