Thursday, 8 November 2012

AAPL - freefalling to the big $500

Apple (AAPL) closed a further 3.7% lower @ $537, and is now down almost 10% so far this month! There is no sign yet - of what is a multi-month collapse wave, coming to an end any time soon.

AAPL, daily

AAPL, monthly


The daily declines do seem to be accelerating, and there is no sign of any floor yet.

The bigger monthly chart suggest the $500-480 range as a very strong floor.

There are plenty of posters/commentators out there who are touting low $400s, although most of them suggests that target for spring 2013, certainly not within the next few days!

The long term 'doomer' outlook, is probably something to ignore, but...from a chart perspective, the $300...would be a natural target sometime in late 2013.

All those people who were touting AAPL $1000...or even higher - some as recently as a few weeks ago, they all appear to have moved to a radio-silent.status.