Sounds like a Bullish case being made on the Fundamentals. Mais Non! Let's not confuse anecdotal analysis with a horrible looking chart.
First, a Triangle Chart showing AAPL is in the early stages of a Triangle Sell.
Next, let's look at another weekly chart with channels.
On the chart above, AAPL looks like it wants to fall all the way back to support, which is in the area of the March lows around 120. Note also that the MACD is just now crossing over to the downside, signaling many more weeks of decline ahead.
With AAPL closing at 154 today, a drop to 120 or thereabouts would be quite a move. The roadsigns I respect most are all pointing to a rough summer for AAPL shareholders.
When the smoke clears, AAPL should be one heck of a buy going into the fourth quarter, Christmas buying time for Mr. Jobs and his most excellent Company.
A
Next, let's look at another weekly chart with channels.
On the chart above, AAPL looks like it wants to fall all the way back to support, which is in the area of the March lows around 120. Note also that the MACD is just now crossing over to the downside, signaling many more weeks of decline ahead.
With AAPL closing at 154 today, a drop to 120 or thereabouts would be quite a move. The roadsigns I respect most are all pointing to a rough summer for AAPL shareholders.
When the smoke clears, AAPL should be one heck of a buy going into the fourth quarter, Christmas buying time for Mr. Jobs and his most excellent Company.
A
1 comment:
Allan, I've been a long distance and long time reader of yours and a millionaire following your trades.
Query:
If I short Apple and go Long Orange 21 Systems (ORNG) am I hedging myself?
Paul Hausser
Berlin
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