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Rare Apple Technical Set Up

 December 17, 2012 02:02 PM

Apple is now showing bullish divergence on both weekly and daily RSI charts.  Note that the weekly RSI divergence has been rare and even more importantly rarely wrong.  What does that mean?  After losing 27% from peak to trough, APPLE is probably a good buy here but there is a lot of conflicting noise as the market itself is unnerved by the fiscal cliff drama.

Apple weekly chart with bullish divergence on the RSI

Apple daily chart with RSI bullish divergence

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