I have a bullish thesis on AAPL based on Morning Stars report, and general market trends. With the least credible support to the most credible, here are my reasons why I am betting big on an Apple comeback. Starting with general market trends, the SP 500 is down roughly 1% for the last 20 days. The overall market has hit a minor recession due to Covid-19 economical repercussions, as well as an overvalued market. According to Morning Star, due to Covid-19 causing many to work, and go to school from home, Apple can benefit as the demand for computers and iPads may increase. Morning star gives Apple a FVE of $285 based on this work from home trend.
With 3 straight weeks of market decline, we are due to see an incline during the next 3 weeks, and Apple will be reporting earnings October 28th. Q2 and Q3 of 2020 Apple beat earnings, and Q3 had a bigger beat than Q2 proving that Covid-19 cannot stop Apples growth. I am very bullish on AAPL and have placed options orders. I am confident in my call for Apple being worth $120 a share by 11/20/20. Stay tuned for trend accuracy and options announcements.
With 3 straight weeks of market decline, we are due to see an incline during the next 3 weeks, and Apple will be reporting earnings October 28th. Q2 and Q3 of 2020 Apple beat earnings, and Q3 had a bigger beat than Q2 proving that Covid-19 cannot stop Apples growth. I am very bullish on AAPL and have placed options orders. I am confident in my call for Apple being worth $120 a share by 11/20/20. Stay tuned for trend accuracy and options announcements.
Comment:
Apple is already up 4% in day 2 of 20, and I still predict that it will rise another 6% by that 30 day deadline. Technical moving averages are giving Apple a strong buy for the remaining week. Also Citi bank increased Apples price target from $112.25 to $125. Apple is looking strong and making a big comeback. Also did you know apple stores were closed during Q3? While stores were closed they still set records in regards to sales. For Q4 stores will have been open and this may help drive growth even further. Thank you all who are following and keeping tabs on this publication. Feel free to like and comment your thoughts. I will be posting updates on a daily basis.
Comment:
Good morning everyone, I am starting today off with a bold prediction based on an analysis made by @Hikerthebiker42082. Based on his chart I am predicting Apple will hit an intra-day low of $108.50 and a intra-day high of $112. I am confident on this prediction with Apple up 4% collectively in the previous two days during a market decline. Now the 9.23 futures are positive for all 3 major US indices. Many analyst are also reporting their professional opinions about Apples wearables, and health and wellness sector booming as a result of Covid-19. Let me know your thoughts below and feel free to follow for more in-depth analysis on major stocks as I continue options trading. Should I hold onto my 11/20/20 $120 call through earnings?
Comment:
Good morning everyone, here is my final daily update and then the rest will be weekly. As I am publishing this report it is 3am and the three main US indices are down less than .25% pre-market signaling for a potential rise during the trading day. I believe we will see the market incline while the futures are down because they are not down heavily and have taken a blunt of the hit on Wednesday. This morning the US jobless claims will be released which will help move the markets up or down based on the report. I believe there will be less jobless than expected as businesses are re-opening, people are working from home, and many major companies could already be increasing their staff for the Christmas season. I know it’s early, but you would be surprised! Hoping to see Apple at $115 a share or higher by Friday. I will be exploring other ideas here on trading view and feel free to comment your thoughts. Leave a like if you enjoy the fundamental analysis.
Trade active:
11/20/20 $120 options call sold for 4.80 a contract
11/20/20 $120 options call bought for 4.50 a contract
I am becoming confident in my technical analysis that I will be making trades, I still firmly believe Apple will hit the strike price of $120 and ultimately be up 10% in the next 20 days ( 17 now ) as my original thesis has been stated.
I am trying to accumulate money to build a bigger position. Therefore bring in bigger returns.
11/20/20 $120 options call bought for 4.50 a contract
I am becoming confident in my technical analysis that I will be making trades, I still firmly believe Apple will hit the strike price of $120 and ultimately be up 10% in the next 20 days ( 17 now ) as my original thesis has been stated.
I am trying to accumulate money to build a bigger position. Therefore bring in bigger returns.
Trade active:
11/20/20 $120 options call sold for 4.70 a contract
Looking to buy back in when contracts are super low, I believe Apple will drop sometime next week.
Looking to buy back in when contracts are super low, I believe Apple will drop sometime next week.
Comment:
A lot of people have been asking me why I believe Apple will drop Monday after todays mini breakout. I am a strong Apple bull, but the only reason I believe it will drop Monday is because it needs a healthy retraction before it shoots to the moon the rest of the week. My original prediction was for it to drop to $108 a share but that is pretty significant. My new target is $109.50. Maybe $108 as an intra-day low but not a closing price. I am looking at other publishers exclusively on trading view gathering their ideas and using their work to support mine and many publishers do see a down trend for Monday. Time will tell so feel free to follow and see how accurate I can get. I have also created a chart that is linked to this that supports my drop for Monday. Happy trading and I will be posting an update Monday. Also hopefully some trade action.
Comment:
For those of you who followed and have been keeping up from the start, Apple is already up 7.4% I have until 10/16 for it to go up another 2.6%. I believe this will be greatly surpassed the next trading week alone. Stay tuned!
Trade closed: target reached:
Apple has hit 10% increase within 20 days as of today. Thank you all for the support.
