Search This Blog

Tuesday, December 15, 2009

AAPL chart

The reason I like AAPL, for an initial position, right now is because of the mini consolidation it has seen.

From the powerful move it saw last week, the stock is now hugging the 10 SMA. It is showcasing a mini consolidation from that strong move. The set up looks like AAPL wants to change direction, and push upward.

Fundamentally speaking, if the month-long weakness was due to the Nexus One Google phone, that is a bad reason for sellers to come out. (Lets not forget AAPL is more than an iPhone.)

I purchased the common here, not options. (Would like to ride past 205, but knowing my trading habits I will be trading around it rallying.)

No comments:

Post a Comment