Since Dec 2018, we have seen Apple go on a 130+% run. Absolutely spectacular. Share buybacks, dividends, growth...an absolute homerun of a stock. So where are we going from here.
Technical Analysis:
1. On the weekly chart, Appl RSI is in overbought range and we're seeing a slight turn on the MACD, so some sellers are taking profits (more of this below).
2. We would like to see Apple find a new support range. Looking at the top of our uptrend channel or around the $255 price level. Wouldn't consider buying anything higher yet for a long term position.
Fundamental Analysis:
1. We are seeing Sellers take some profits, and why not, it's a perfect time to do so. Election year, super Tuesday a month away, and typical "Sell in May & Go Away" coming up.
2. Corona Virus precautions have led to temporary store closings on all of Apple's corporate offices, 42 stores and contact centers in mainland China through February 9. While Apple had strong December and January sales, According to the New York Times, "Apple generates about 17 percent of its sales in China and about 25 percent of its operating income in the country", so this may be something to pay attention to.
At the moment we are short term neutral-bearish as we wait for Apple to find its new support.
Shoot us a like and give us a follow as we come back with more updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Technical Analysis:
1. On the weekly chart, Appl RSI is in overbought range and we're seeing a slight turn on the MACD, so some sellers are taking profits (more of this below).
2. We would like to see Apple find a new support range. Looking at the top of our uptrend channel or around the $255 price level. Wouldn't consider buying anything higher yet for a long term position.
Fundamental Analysis:
1. We are seeing Sellers take some profits, and why not, it's a perfect time to do so. Election year, super Tuesday a month away, and typical "Sell in May & Go Away" coming up.
2. Corona Virus precautions have led to temporary store closings on all of Apple's corporate offices, 42 stores and contact centers in mainland China through February 9. While Apple had strong December and January sales, According to the New York Times, "Apple generates about 17 percent of its sales in China and about 25 percent of its operating income in the country", so this may be something to pay attention to.
At the moment we are short term neutral-bearish as we wait for Apple to find its new support.
Shoot us a like and give us a follow as we come back with more updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Note
Target remains on track: top of the channel and/or $255 price region as Apple looks for support.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.