The story with $AAPL has been about adding improvements to the already known devices. Some of them like adding the pencil back when back in the day the idea was to get rid of it don't make too much sense. As an Apple user I am not too happy with the ear buds and the fact that the traditional earphone plug was removed. There are features that instead of being innovative are a catch up with the competence. My point has been for a long time, Apple has been losing its innovative spirit. It is in the market, and it will be for as long as the consumers still see the Steve Jobs' spirit and magic in the products. Apple needs to reinvent the future, think outside of the box, surprise the consumer market and not only play safe catch up. Apple is still a badge people use to display a status. And it makes it keep its shine. I like Apple and I like to see it doing what it made it position where it is now, innovating.
As per the technical levels there are two signs that are worrisome, the first one is the price level hitting a major Support/Resistance. The second is a very dry volume compared with what we have seen in previous months. Volume creates momentum, and if the financial market is not too convinced it won't commit another line to go beyond the ATH level. Best case scenario it will retest the support to see if there are still dip buyers in a large enough number to regain momentum to the upside and bounce between ATH and support. If there are not enough buyers stepping in this may make a pretty hard correction to below the support level at 188. ER will be in early November, so it will be a good chance for a rebound. Still a good stock, but I am leaned towards the Bear side on this one after the technical levels and with very specific targets.
As per the technical levels there are two signs that are worrisome, the first one is the price level hitting a major Support/Resistance. The second is a very dry volume compared with what we have seen in previous months. Volume creates momentum, and if the financial market is not too convinced it won't commit another line to go beyond the ATH level. Best case scenario it will retest the support to see if there are still dip buyers in a large enough number to regain momentum to the upside and bounce between ATH and support. If there are not enough buyers stepping in this may make a pretty hard correction to below the support level at 188. ER will be in early November, so it will be a good chance for a rebound. Still a good stock, but I am leaned towards the Bear side on this one after the technical levels and with very specific targets.