Real-Time Quote
US News
Page 1 of 3 | Next Page
Show Entire Article

Abigail Doolittle: Bear Signs In Apple, Transports?
CNBC.com | March 14, 2012 | 06:27 PM EDT

Technical analyst Abigail Doolittle noted bearish elements in the charts for Apple stock and the Dow Transports .

“Apple really is, at this point, all about its parabolic move,” Doolittle of Peak Theories Research said Wednesday on “ Fast Money .”

-------------------------------------------------------

SLIDESHOW: Top Apple-Related Stocks for 2012

-------------------------------------------------------

“The minute, though, it starts to reverse below that trend line, which will happen again — a parabolic move, by definition, cannot last forever — it is going to drop quickly back down,” she said. “One reason to think this will happen is a long-term, ascending trend channel. It’s very likely that the support and the resistance in this channel’s going to pull it back down.”

Doolittle said that while Apple’s trend was up for now, its downside might come hard and fast to close gaps at $552, $477 and above $430 or so.

Page 1 of 3 | Next Page
Show Entire Article
Real-Time Quote
omniture pixel