InTheMoneyStocks'  Instablog

InTheMoneyStocks
Send Message
  • The Master Pivot Point On AAPL Revealed 0 comments
    Jan 4, 2013 11:47 AM

    Apple Inc. (NASDAQ:AAPL) has started to fall again, trading at $527.06, -15.04 (-2.77%). Many investors and analysts are perplexed, wondering whether it is headed to new 52 week lows, below $500.00 per share. The charts tell the truth and will be explained below.

    Note the bottoming tail on November 16th, 2012. That was the low pivot in the second half of 2012 and even though the price was retested and pierced, it never closed below that low. This puts a line in the sand at the low of $505.75. As long as AAPL does not close below this low pivot on the daily chart, it has potential to bounce. We have seen this bounce many times in the last few months and never has the stock closed below it.

    Should Apple Inc. close below $505.75, it will fall fast. This would represent a technical breakdown with the next major support being at $470.00 - $475.00. Secondary support and the ultimate low would be $425.00. Both represent buying opportunities. The $470 - $475.00 level would be a near term major bounce while the $425.00 would be a long term hold level for major upside.

    Gareth Soloway
    InTheMoneyStocks

Back To InTheMoneyStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • And he just closed out another one, $DUST for +7.55% in the Research Center... inthemoneystocks.com/investor.
    Jul 20, 2016
  • Gareth sold his $JDST in the Research Center here: http://bit.ly/ActiveInvestor. Profit earned = +12.5%. Congrats members!
    Jul 20, 2016
  • $IWM negative already on the day. Small cap warning signal?
    Jul 20, 2016
More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.