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Apple: The Trend Lower

Jul. 21, 2013 9:43 PM ETAAPL
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Heading into earnings this week I take a look at Apple and see one thing: The trend. It's been down since the last September and through a few commendable tries to breakout it's since failed. Valuing a stock like this, regardless of what it should be worth, in my opinion, is a hard thing to do. With a name like this there seems to be more of an opinion bias towards it and less of an understanding of the companies products and revenues. So, that being said, sticking to price action and the trend should provide a clear, no-nonsense approach trading this name into earnings.

I've been tracking the stock and trading in and out since those highs and firmly believe this trend continues lower. My target on the week into earnings is $405, maybe lower. Again, I could be wrong and have been many times before, however my money is on the trend continuation lower.

Here are a few charts since I have been looking for this story stock to finally get off this terrible trend leading up to this weeks earnings.

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