AAPL stock chart analysis
I received reader’s request to tell my opinion about AAPL.
When I see chart today I noticed these main points:
- AAPL acts better then stock markets , it has relative strength
- AAPL is trading between two important support and resistance trendlines.
From my point of view AAPL is neutral for me till one of these situations will happen.
- If AAPL will break down under 160 – 162 area then it will signalize short trade opportunity to me with targets in 140 – 145 area
- If AAPL will break up above 180 then it will be bullish scenario with long trade opportunity with targets near 200.
As negative sentiment is prevailing stock market trend now it will be important if AAPL will be able to hold 160 support area.
September 16th, 2008 at 10:03 am
Rich, thank you for this analysis!
I entered at 159, and if I hadn’t bailed out on 09/09 at 152.7 to swith for DELL, it would be about 11% gain… still a decent profit