Tuesday, 12 September 2017

AAPL - post event cooling

Apple (AAPL) saw a day of swings, seeing an intra high of $163.96, an afternoon low of $158.77, and settling -0.4% at $160.86. Near term offers a break of rising trend - currently in the $158s, which will open up the 154/50 zone. Broadly, mid term bullish, as many in the mainstream are seeking the $180/90s before year end.

AAPL daily

AAPL monthly


Suffice to add, with the 'event' out of the way, we're already seeing some initial cooling, which some could justifiably call a 'sell the news' event.

Short term, AAPL looks vulnerable, not least as the main market is due a 4-5% correction into October. More broadly though, that would do little to dent the mid/long term bullish trend.

Technically, AAPL would only be bearish with some sustained action under the key 10MA, currently in the $142s. Frankly, that looks a stretch, even if sp'2380s in early October. On the giant monthly cycle, even if AAPL were to max out around current levels, a bearish MACD (green bar histogram) cross would not be seen until least early spring 2018.

So.. short term bearish.... mid/long term bullish.