Commentators on the market would have us believe that the recent retrace in AAPL is because of a variety of reasons, few if any of them having to do with technical levels being reacted to by traders/investors. While there is no doubt that there have been reports that are detrimental to AAPL, the point to keep in mind is that these reports have occurred after the reaching and reaction to the levels we previously identified on our published AAPL charts.
A ST Short, Intraday Short and a LT Short have all had their effect on stock price and the ST Short and LT Short are still being sold up to this point in time as well as shorts on the smaller time-frames.
We have identified the levels that are of interest and which traders/investors will be reacting to as of the time of this analysis. As always, not all levels can be shown on the chart.
The chart clearly shows that technically speaking, AAPL is experiencing nothing more than a normal retrace in price, though a significant one. Investors/traders are still looking for entries for the next expected leg up and will continue to buy at key levels. From a fundamental analysis standpoint, AAPL is still a very strong company and it remains to be seen if any competitors can wrest a meaningful market share away from them at this point in time. We believe it will happen but stock prices rarely reflect an accurate valuation.
As always, the tried and true method is to trade LT in trend, ST counter-trend, The charts agree.
Keep in mind that the published analysis does not show our time analysis as that information is reserved exclusively for our clients. The price levels are valid until reached or the entry level definitively fails.
A ST Short, Intraday Short and a LT Short have all had their effect on stock price and the ST Short and LT Short are still being sold up to this point in time as well as shorts on the smaller time-frames.
We have identified the levels that are of interest and which traders/investors will be reacting to as of the time of this analysis. As always, not all levels can be shown on the chart.
The chart clearly shows that technically speaking, AAPL is experiencing nothing more than a normal retrace in price, though a significant one. Investors/traders are still looking for entries for the next expected leg up and will continue to buy at key levels. From a fundamental analysis standpoint, AAPL is still a very strong company and it remains to be seen if any competitors can wrest a meaningful market share away from them at this point in time. We believe it will happen but stock prices rarely reflect an accurate valuation.
As always, the tried and true method is to trade LT in trend, ST counter-trend, The charts agree.
Keep in mind that the published analysis does not show our time analysis as that information is reserved exclusively for our clients. The price levels are valid until reached or the entry level definitively fails.