So do you see Apples stock returning to the 181 mark especially when they are releasing the 3G iphone next month and have lined up new carriers in a number of new countries (more than 1 in Italy which has not been the norm per country so far)? I have noticed Apple has been trading above the 13 day moving average so with all that buying occuring, wouldnt the price continue upward especially in the coming month or are there other factors?
Zach Bass
· 1 year ago
Although market events can have an affect on a stock, to some degree the anticipation of the 3G introduction is built into AAPL. What is influencing the stock right now is the broader markets, which are unwinding from the overbought conditions in the past two weeks.
So, AAPL very well could go down to 181. Considering the action today, it moved up about 1.5%, but on pretty weak volume. If the rest of the market decides to sell off some more, I don't think there will be too much resistance. Now, the question is, will it reach back down to 181 or below? Don't know. But if it approaches it, the closer it gets, the more attractive it becomes for accumulation.
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So, AAPL very well could go down to 181. Considering the action today, it moved up about 1.5%, but on pretty weak volume. If the rest of the market decides to sell off some more, I don't think there will be too much resistance. Now, the question is, will it reach back down to 181 or below? Don't know. But if it approaches it, the closer it gets, the more attractive it becomes for accumulation.