AAPL…. A Buying Opportunity or A Signal to Bail Out

Admittedly, I am surprised that Apple Inc. (AAPL) has extended its weakness beneath the Sept-Jan support line, and has violated its prior significant pivot low at 538.80 on Dec 18.

However, in that my intermediate-term pattern and momentum work remain very constructive, my inclination is to consider AAPL weakness as another buying opportunity rather than a signal to bail out of the long side.

That said, the 535 area represents the squidistant-swing target off of the Dec 5 high at 577.38.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!