Trade Idea for Apple Computer Inc. (NASDAQ)

Apple Computer Inc. (NASDAQ)

#AAPL

 The trend is downward. The stock is trading within the range of the 365 and 135 EMAs. The upward wave structure is truncated. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell on the formation of a downward wave structure, where wave (A) breaks through the ascending channel of the truncated upward structure.

Stop Loss – 256.50.

Target levels – 252.00; 247.00.