January 15, 2015MarcoTradeComments Off on Trade Ideas – AAPL @ $114.87
Apple is a winner. They continue to innovate and manufacture technology that everybody wants. As with every other stock however there is a good time to buy and a good time to sell. In the last 32 sessions, Apple has been drawing a short-term double bottom on its chart. The first low was made on 12/16 at $106.26 and the second low (which undercut the first) was made on 1/6 at $104.63. The buy point for AAPL is $114.87 and the stock is trading now at around $108. The last 7 sessions have shown accumulation while the market has been selling off.
Apple is set to report earnings before the end of the month. Everybody is expecting huge iPhone numbers so the news might be already baked in the current price. That said, we don’t know for sure how big the China market was for them and we should not underestimate the pipeline of new products and potential new revenue that Apple is going to have in 2015. I believe this will be great year for AAPL stockholders and now, ahead of earnings, might be a good time to establish a position. If you are following the chart, wait for AAPL to reach and surpass the $115 level in high volume.