Apple Shares news July 14 2011, closed the session higher

Apple Shares news July 14 2011, closed the session higher ; Apple, Inc. (NASDAQ:AAPL) shares closed the session higher by $4.27 or 1.21% from its previous close. Apple's latest price action developed a short term reversal pattern in the form of a tweezer top, which is a candlestick pattern that is usually formed at the end of a uptrend. Given that the tweezer top is considered a reversal pattern, traders with long positions need to monitor stock price action for confirmation of weakness and plan position accordingly.

Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, and a variety of distribution channels. Apple through its ITunes store sells third party music and video content, its applications store sells Apple's own and third party software applications for its iPhone and iPod products.

Apple's stock has been a defined range with support at $310.50 and resistance at $360.00, which can be used by traders managing their trades, given the possibility of short term weakness in the stock.

Tweezer tops are exactly the opposite of tweezer bottoms, as they define a resistance point for Apple that needs to be digested prior to the stock price to move higher.

Tweezer tops can be formed at the end of an uptrend, at a clear horizontal resistance point, or within a downtrend when price action is dealing with the declining resistance trend. Like any other candlestick pattern it needs confirmation by trading below the previous day low.