Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Jan 11, 2017 3:39:49 GMT -8
Good morning everyone. The CNBC headline is 'Wall Street set for lower opening' this morning. Meanwhile every market index except Shanghai is GREEN, albeit modestly, at this early hour. Makes one wonder. AAPL is RED, trading at $ 118.75 -0.36 (-0.30%). Resistance here is not surprising -- for Apple or the broader market and the DOW. A little consolidation is good for a higher run. I am keeping some dry powder for the inevitable pull back. Not much in the news: Additional coverage of Chris Lattner's departure at CNBC and others. AppleInsider and other have Video shows early competing iPhone prototypes developed by Tony Fadell and Scott Forstall. Have a great day. Let's make money.
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Post by mace on Jan 11, 2017 5:45:27 GMT -8
...Resistance here is not surprising -- for Apple or the broader market and the DOW. A little consolidation is good for a higher run. I am keeping some dry powder for the inevitable pull back.... How low do you think? Minimum $115, could be to $102.
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Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Jan 11, 2017 5:58:32 GMT -8
...Resistance here is not surprising -- for Apple or the broader market and the DOW. A little consolidation is good for a higher run. I am keeping some dry powder for the inevitable pull back.... How low do you think? Minimum $115, could be to $102. Though I don't want to see AAPL that low, might as well take advantage of the swings. I'll wait for below $115... and probably below $105. The Spring Market is historically unkind to AAPL. Of course, factors can always cause me to re-evaluate. This 'Trump' bull market appears to have legs.
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Post by rickag on Jan 11, 2017 6:05:00 GMT -8
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Ted
fire starter
Posts: 882
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Post by Ted on Jan 11, 2017 6:47:16 GMT -8
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Post by tuffett on Jan 11, 2017 9:13:06 GMT -8
Some fantastic comedy on the television right now. Shame he skipped over the repatriation question.
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Post by sponge on Jan 11, 2017 12:03:03 GMT -8
Nice reversal.
Bought my calls two days too early.
This move bodes well for next week.
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Post by mace on Jan 11, 2017 12:47:30 GMT -8
... This move bodes well for next week. Not so sure. $120 is a strong resistance. Hard to believe that it is so easy to break through... first time only? Usually need minimum of 2 times. Are you aware that there is a huge call walls at $120 for Jan 20 options? The other is at $110 and $115.
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Post by sponge on Jan 11, 2017 13:09:34 GMT -8
... This move bodes well for next week. Not so sure. $120 is a strong resistance. Hard to believe that it is so easy to break through... first time only? Usually need minimum of 2 times. Are you aware that there is a huge call walls at $120 for Jan 20 options? The other is at $110 and $115. I think if we break the 120 wall it will happen before OE we then come down to 118-119 area. This ensures maximum profits for call sellers. Won't break it again until March will our way to 130. Apple needs to report good numbers for Q1 and solid guidance for Q2. Trump needs to have a solid 90 days of progress with congress as well.
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Post by mace on Jan 11, 2017 14:27:21 GMT -8
... if we break the 120 wall it will happen before OE we then come down to 118-119 area. This ensures maximum profits for call sellers. Won't break it again until March will our way to 130... Sound reasonable. Many technicians seem to think it will go to $130-$132 using inverse H&S (multi-week pattern) or to $150 using cup and handle (multi-month pattern).
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Post by sponge on Jan 11, 2017 14:49:13 GMT -8
... if we break the 120 wall it will happen before OE we then come down to 118-119 area. This ensures maximum profits for call sellers. Won't break it again until March will our way to 130... Sound reasonable. Many technicians seem to think it will go to $130-$132 using inverse H&S (multi-week pattern) or to $150 using cup and handle (multi-month pattern). My thoughts as well. However I don't see 150 unless we have extremely strong guidance for December 2018.
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Post by Luckychoices on Jan 11, 2017 15:41:12 GMT -8
Did I blink? In 5 days, AAPL went from "flirting" with a buy point to being in "Overbought Territory".
============================= Apple Flirts With Buy, Alphabet Breaks Out, Joining Netflix, As Big Techs Lead Reinhardt Krause - 01/06/17
Apple (AAPL) flirted with a buy point Friday while Google-owner Alphabet (GOOGL) broke out, joining Netflix (NFLX), which retreated even as an analyst mulled a Walt Disney (DIS) bid for the video streamer. In the stock market today, Apple rose 1.1% to 117.91 after rising intraday to 118.16, briefly eclipsing a buy point of 118.12 out of a cup-with-handle base. Volume was average.
============================= Apple (AAPL) is in Overbought Territory: What's Next? January 11, 2017
Apple Inc. (AAPL - Free Report) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because AAPL is now in overbought territory with an RSI value of 70.36. What is RSI? RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present. Other Factors Yet AAPL’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions in Apple’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of AAPL’s prospects for the near term. Over the past two months, investors have witnessed 3 earnings estimates revision lower compared to 2 higher for the current year. The consensus estimate for AAPL has also been on a downward trend over the same time period too, as the estimate has fallen from $9.06/share two months ago to just $9.02/share today. If this wasn’t enough, Apple also has a Zacks Rank #4 (Sell)which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth.
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