WallStScalper
Short

Overvalued Apple-dreams - Carl Icahn desperate!

NASDAQ:AAPL   APPLE INC
507 17 19
Bear flag

Carl Icahn still thinks Apple             is "dramatically undervalued" and upped his price target recently for not getting.....trapped?

I see a bear flag ... what do you see?

If you agree with my chart(s) or just want to show appreciation - please click the thumbs up in top left corner of the chart.
I would really appreciate it! Thanks!

TWUC
@BLawrenceM

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Keep the AAPL comments coming! Thanks.
+1 Reply
Do you know that July and August is best period for AAPL in terms of seasonality? Based on the past 20 years, AAPL is 75% likely to outperform SPY in July, with an average gain of 6.5% relative to SPY.
http://stockcharts.com/freecharts/seasonality.php?symbol=aapl&compare=spy
Reply
WallStScalper PRO JohnKeverich
Yes But everything as to come to an end and a bear flag is what it is until it's not. I'm a TA trader not a FA so I put more value into the chart than expectations of what might come. What I have noticed is FED's trading desk normally let Apple make the run up before earnings or events and sell it on or just before news. A nice punp'n'dump scheme.
+1 Reply
WallStScalper PRO JohnKeverich
I think it's due to their watch... not really selling
Reply
JohnKeverich WallStScalper
No. It's because I bought this stock on Tuesday...and this is why I most trade indices!

Seriously though, seasonality still strongly argues in favor of AAPL recovering within the next 2 months.
Reply
WallStScalper PRO JohnKeverich
I have made a longer term chart as well...I'm not so sure about it. I see it go further down
Beware "Rotten Apples"... Always Falls From The Tree!
Reply
JohnKeverich WallStScalper
Then I'll just add at 115. It has been two days and we're already halfway down. There is enough time to hit 115 before earnings, then new highs :)
Reply
WallStScalper PRO JohnKeverich
:) Okay if money is not a problem... I see your point then
Reply
JohnKeverich WallStScalper
Naturally, I didn't bet a farm on it.
Reply
WallStScalper PRO JohnKeverich
Well time will tell ...let's see :)
Reply
JohnKeverich WallStScalper
Sold my shares today at the open :)
Reply
Agreed B. Lawrence! According to my view daily chart bearish until March- April 2016. Then Bullish long term.
+1 Reply
nice flag
but
i will hold till the
longer support trends fail
snapshot

closer view shows the upper trend holding up
snapshot

keep up the great posts ! Give me guidance when i am lost or see nothing !
Reply
Doesn't the flag have to hit multiple points for it to be considered a flag? The yellow line you drew from $125.84 and $127.35 would require multiple hits from the stock price would it not?
Reply
Most agree with me now that it was a bear flag
Reply
Great call
+1 Reply
Thanks for you comment
Reply
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