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| AAPL - Multi-year Trendline |
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| AAPL - Trending down in a channel |
- Shortterm: APPLE likely to test the crucial Fibo level of at least 50% (392-400).
- Medium/ Long term: If the BULLS can't break out of the down trending channel, BEARS likely to target strong supports at 350 and 61.8% level.
- Beware of the positive divergence
Congratulations Sandeep on starting a blog site and wish all you all the best for your latest venture.
ReplyDeleteAt current valuation Apple is priced for doom and this offers a good protection on the downside but with it's balance sheet and efforts in new product development one can easily bet that Apple will grow at a faster rate than S&P and hence is a good buy.
I think Apple is in transition from being a growth stock to being a value play and once the value buyers come in, could be at 20-70 dollars below from where it is now, we will see a decent upside and my own understanding is that if at all we have a crisis in the stock market, Apple with 150 billion dollars in cash and growing sales will emerge as a strong defensive stock and will attract new money.