October 20, 2014

AAPL-Short term ‘Sell’ alert on APPLE

Posted on June 10, 2010 by in GLOBAL CHART ANALYSIS

AAPL-Short term ‘Sell’ alert on APPLE

Global Chart Analysis has issued a short term sell alert on apple.

Click here to view entire report with charts
So far Apple is showing an unfavorable market response to their new iPhone launch and it looks like the ipad excitement may have run it’s course over the short term as well.  Apple may  also face an antitrust suit with their advertising approach which could ignite even more profit taking. We should also mention the recent security breach on their new ipads which affected 110,000 ipads. Yes these should all be short term issues for apple and nothing they can’t take care of, but we see these issues taking the upside momentum out of the stock and potentially knocking the stock down as much as 20%.  This profit taking could be fast and aggressive so those shorter term holders should beware.
Click to enlarge chart


On the technical sidewe are seeing increasingly aggressive selling in AAPL.  AAPL has now broken multiple support levels including its 21 and 50 day moving averages as well as its bullish wedge. This sell-off has some heavy volume to go along with it so this sell-off is for real.


What to look at now: We do see AAPL as short term stretched to the downside, so we forecast a run back up into its 50 day moving average level before finding another wave of sellers which should then force the stock lower. If AAPL is strong enough to retake and hold its 50 day moving average level, we would take it off our ‘Sell’ watch list. If this level can’t be retaken and instead turns into resistance, we will officially move AAPL from our sell watch list and move it to our ‘Sell’ list.


Price Target: We see AAPL selling off to the $225-$231 level followed by the $211 level. There is also the potential for AAPL to retest its flash crash lows of $199. This would be close to 20% move lower, where it should finally find plenty of support.

To get our Daily Explosive Stock Setups and Market Commentary Reports Sign up Below

Click Here To Try Our Service




Global Chart Analysis and www.betterstockentries.com (“Company”) is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company’s website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company’s products (collectively, the “Information”) are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company’s website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading and may not be impacted by brokerage and other slippage fees. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
603 S. Prospect Ave
Redondo Beach, CA 90277

Comments are closed.

Powered by WishList Member - Membership Software