Trade Idea for Apple Computer Inc. (NASDAQ)

Apple Computer Inc. (NASDAQ)

#AAPL

   The trend is bullish. Bears have tested the lower boundary of the ascending price channel. The descending wave structure is truncated. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator indicates oversold conditions.

Trading Idea:

Buy on the formation of an ascending wave structure, where wave (A) breaks above the descending channel of the truncated wave structure.

Stop Loss: 254.80.

Target levels: 265.00; 275.30.