If u want to take high risk trade go ahead and enter long position here as it may continue upside but beware 100-110 is extreme top and price can reverse, short sellers can build a trade now by adding a few shares or contracts as it moves higher from this level. The chance the stock will trade below $90 in 3-6 months is very high. Stay safe and tuned for more to come!
Comments
pdiddy.pablo
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You've been posting "don't go long" for almost a month now. I think you are ignoring many factors including fundamentals (share buy back, low PE, increased buying by hedge funds last quarter, steady margins and dominance in the sector, impact of new products, etc etc etc). and the bullish technicals (MACD and RSI just turned positive for 1 year and 6 month chart, increasing buy volume despite being at a high, etc etc). Also if we break this level with confidence, we are into the holy grail of free flying no resistance bull run. The last time apple broke out new highs it moved up almost 40% before falling at 700. Apple has been moving parabolic for the last few years. I fully expect this to continue a parabolic trading style. We are not even at fair value based on forward PE. In my opinion it will continue to go up until reaching fair forward PE, then have an exaggerated run past fair value to overvalued. Only once it is overvalued will hedge funds and Ichan types start selling. That is when I will sell (I'm thinking 130-144). The only thing to worry about in my opinion is the over all market and maybe a delayed iwatch release. On the other side of what ifs, if the iwatch has non invasive blood sugar monitoring, I'll probably never let go of my shares! Non invasive glucose monitoring makes apple a $200 stock easy...the implications are endless.