Do you believe Apple will extend its climb?
Apple is not only the most expensive publicly listed company in the world. This is also a company, whose shares have shown the most beautiful rising trends since it started to exist.
They were not fearful of 2007-2009 turbulence. They were stable even when the financial crisis reached its bottom.
After a split, the company’s shares have been retracing to all-time highs. But I believe a wave of growth that started in July 2013 is almost over. The shares may reach a high of USD 129-130 before a new correction wave (the Fibonacci correction level 161.8% against a fall from August 2012 to June 2013).
This situation is much similar to an uptrend as of March 2009. Growth ended exactly at the 161.8% Fibonacci retracement level against a fall from December 2007 to March 2009. (I highlighted this band in grey). Stocks were slightly above the landmark Fibonacci level, but this was a technical fault. Investors are advised against buying the stock, counting on such faults.
I would not open short positions for AAPL given this upside. To purchase, it is better to wait for correction at least toward the upward trend of June-August 2013.
Dear readers, please vote for me in the best forecaster competition at the link: s30771535756.whotrad...com/blog/43935635652
Apple is not only the most expensive publicly listed company in the world. This is also a company, whose shares have shown the most beautiful rising trends since it started to exist.
They were not fearful of 2007-2009 turbulence. They were stable even when the financial crisis reached its bottom.
After a split, the company’s shares have been retracing to all-time highs. But I believe a wave of growth that started in July 2013 is almost over. The shares may reach a high of USD 129-130 before a new correction wave (the Fibonacci correction level 161.8% against a fall from August 2012 to June 2013).
This situation is much similar to an uptrend as of March 2009. Growth ended exactly at the 161.8% Fibonacci retracement level against a fall from December 2007 to March 2009. (I highlighted this band in grey). Stocks were slightly above the landmark Fibonacci level, but this was a technical fault. Investors are advised against buying the stock, counting on such faults.
I would not open short positions for AAPL given this upside. To purchase, it is better to wait for correction at least toward the upward trend of June-August 2013.
Dear readers, please vote for me in the best forecaster competition at the link: s30771535756.whotrad...com/blog/43935635652