What's up everyone, first of all I'm a huge believer and fan in Apple and Apple products so it's always hard to go against a company I love, but when it comes to TA, put the emotions aside. Charts don't lie. Let's hop right in.
We've seen a huge decline in the markets all around and we're not surprised. We are (were) indeed in the longest bull run in history. Repeat: longest bull run in history. We were way overdo for a pullback. We've begun to see that pullback all around the markets, especially sell offs when the Fed keeps raising interest rates. I don't know why it tanked so hard again after Powells decision to raise rates. This shouldn't have come to a surprise, it was almost a no brainer it was going to happen. Oh and inside scoop....it's going to happen again at least two more times in 2019. As we know, rates go up -- stocks go down. Anyway, back to to the reason you're here: Apple.
We've seen a substantial sell off in Apple beginning around the first week of November and it doesn't appear to have slowed down.
The blame game:
1. A lot of fundamental analysis blaming it on iPhone patent issues with China (not true, it only affected older models -- this is not that big of a deal).
2. Others blaming it on the fact that apple will no longer reveal the number of iPhones sold in there quarterly reports (guess what, they never had to do this to begin with). While I do like to know this number myself, people place too much emphasis on this number as an interpretation as to how the company is doing.
3. Various other reasons: lawsuits, removing phones off German stores etc...
Where we're heading:
As the market as a whole continues to decline, I believe Apple will as well. We don't exactly where we'll find bottom, so I like to buy the discounts the whole way through. Remember, Apple is trading at a premium right now. This is a stock that was $230 less than 60 days ago. I really like the $140-155 buy range to accumulate some positions. RSI is showing oversold at the moment so a short rebound could be in play.
If we don't find support here, next stop to accumulate is around $120 range. Our purple trendline is the one we have seen as major support trendline since 2009. I would expect this line to hold as a strong support. If this one is broken, we can assume the market is heading to a recession and we'll have to look for the next line of support.
We'll be keeping a close eye to see where this takes us. Shoot us a like -- Cheers!
Disclaimer: Our content is intended to be used and must be used for informational purposes only. We are not professionals. It is very important to do your own analysis before making any investment based on your own personal circumstances
We've seen a huge decline in the markets all around and we're not surprised. We are (were) indeed in the longest bull run in history. Repeat: longest bull run in history. We were way overdo for a pullback. We've begun to see that pullback all around the markets, especially sell offs when the Fed keeps raising interest rates. I don't know why it tanked so hard again after Powells decision to raise rates. This shouldn't have come to a surprise, it was almost a no brainer it was going to happen. Oh and inside scoop....it's going to happen again at least two more times in 2019. As we know, rates go up -- stocks go down. Anyway, back to to the reason you're here: Apple.
We've seen a substantial sell off in Apple beginning around the first week of November and it doesn't appear to have slowed down.
The blame game:
1. A lot of fundamental analysis blaming it on iPhone patent issues with China (not true, it only affected older models -- this is not that big of a deal).
2. Others blaming it on the fact that apple will no longer reveal the number of iPhones sold in there quarterly reports (guess what, they never had to do this to begin with). While I do like to know this number myself, people place too much emphasis on this number as an interpretation as to how the company is doing.
3. Various other reasons: lawsuits, removing phones off German stores etc...
Where we're heading:
As the market as a whole continues to decline, I believe Apple will as well. We don't exactly where we'll find bottom, so I like to buy the discounts the whole way through. Remember, Apple is trading at a premium right now. This is a stock that was $230 less than 60 days ago. I really like the $140-155 buy range to accumulate some positions. RSI is showing oversold at the moment so a short rebound could be in play.
If we don't find support here, next stop to accumulate is around $120 range. Our purple trendline is the one we have seen as major support trendline since 2009. I would expect this line to hold as a strong support. If this one is broken, we can assume the market is heading to a recession and we'll have to look for the next line of support.
We'll be keeping a close eye to see where this takes us. Shoot us a like -- Cheers!
Disclaimer: Our content is intended to be used and must be used for informational purposes only. We are not professionals. It is very important to do your own analysis before making any investment based on your own personal circumstances