Apple stocks head for record .... Tweezer bottom

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Derek  1 Aug 2018


The earnigs and forecasts of Apple gave markets a boost. Apple suppliers in the East are mostly up.

The NASDAQ found support on my long term trend line, but still closed way below the EMA8 line.

Apple touched the 50 day moving average and will most probably bounce from here with its results.

Banks were overbought and Bank of America made an "Engulfing Bear" candle against resistance.

JSE Technical:
After bouncing on support, Anglo American now broke my trend line.

The Banking Shares are still building on their J-curves, but I would like to show Sanlam today. Sanlam finally climbed out of a negative trend factor (red) into a positive one (yellow). It is however in overbought territory. It is in a strong trend and cyclic signals must be ignored until trend is broken.

I must show something else. Tencent made a "Tweezer Bottom" candle formation! Can this finally be the support for Tencent?

For now, if you do not know the explanation of some of the terms I refer too, just google it. We are working on a system to hopefully in the future give links to the explanations.

Enjoy your day.
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