Watch 160 closely, followed by 155/156; these are the levels that should provide support. 160 beautifully happens to be around 100 day EMA, 0.5 FIB and right at TL retest, all enough reason for a bull bounce ahead of earnings that will dictate the longer term direction. Ugly H&S formation on the daily is noticeable and is cause for concern.
Is Apple in a bubble? Is it overvalued? Judge for yourself.
Apple PE Ratio as of January 21: 28.90
PE Ratio Range in the past 5 Years:
Minimum: 11.69, JAN 3 2019
Maximum: 41.80, DEC 28 2020
Average: 22.51
Median: 18.93
Is Apple in a bubble? Is it overvalued? Judge for yourself.
Apple PE Ratio as of January 21: 28.90
PE Ratio Range in the past 5 Years:
Minimum: 11.69, JAN 3 2019
Maximum: 41.80, DEC 28 2020
Average: 22.51
Median: 18.93
Comment:
Another killer call! 30 cents off my 155 floor and bounced more than 12.5% given the fundamentals have never been stronger despite all the inflation and rate-hike fears.