Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

5 Reasons Of Why I'm Extreme Bullish On Apple (AAPL)

Published 12/12/2018, 03:08 PM
Updated 07/09/2023, 06:31 AM

1) 30% DECLINE IN 3 MONTHS

Apple (NASDAQ:AAPL) tanked 30% in less than 3 months. Move like this has nothing to do with fundamental reasons (because nothing has changed fundamentally last three months), but mostly to do with psychological and technical reasons. Psychologically, investors are afraid of the overall market's health with volatility we've seen this year. Technically, AAPL was extended/overbought so investors are taking some profits while the chasers who bought at the top exiting their positions in panic hence the 30% decline in very short time. Apple

2) Rising 100SMA

I think this is important moving average to pay attention to as it has been served as strong resistance/support through out 2016 (see arrows). Today we are retesting it here for the first time since the late 2016.

Apple

3) RISING PIVOT/SUPPORT

Pure technical analysis right here; the rising pivot (blue arrows) and the rising support (red arrows). Apple

4) EXTREME OVERSOLD

Who could forget 2013 and 2016; according to my oscillator this is the level to buy and not sell (blue arrows) if you are a long-term trader/investor just like 2013 and 2016.

Apple

5) Rising-Channel Retest

Breakout-retest is a beautiful thing, because it strengthens the trend with viability. That's exactly what is going on here, we saw a breakout in 2017 and we are seeing a retest today. If we can sustain this level, AAPL is preparing to get into a whole another level to the upside. Apple

DISCLOSURE: Currently I own SHARES and LEAPS on AAPL

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.