Apple - Buy Zones Incoming
Feeling adventurous today so going with a slightly more upbeat/aggressive analysis today on Apple.
APPL is currently down 20% from it's ATH from just 30 days ago. Should you be worried?? Let's take a quick look back at the last year for some perspective. During a global pandemic, with stores closed, people losing their jobs, future market uncertainty, civil unrest and riots, Apple's stock rose over 150%. We also saw a stock split and a Apple managed to come out with surprise earnings every quarter, again.
Fast forward today, stores are opening, we're entering the 5G era, Lidar is making waves and allowing new AR possibilities on your phone, rumors of an Apple Car are looking more and more like a reality. A huge sector that Apple is slowly but surely making their way into is Apple Healthcare ( you can see here for yourself: apple.com/healthcare/ ). There's already several stories of people detecting cardiovascular issues because of early detection thanks to their Apple watch monitoring them. With more and more sensors and apps being developed on the watches (blood glucose sensor, capable of telling diabetics when their blood sugar levels are dropping to dangerous levels is a massive one), there's huge untapped potential in this industry. Jumping into the technical analysis side:
TA
As you can tell, yes, we're bullish on Apple long term. We will be ladder buying our way through this one on all the dips by levels.
These are some of the level's we're watching now:
1. The $118-$113 range where we've seen a lot of volume right after the pandemic crashed the markets since last March is a buy zone first. We're also met with the 200MA in the same area. This support zone alone will be interesting to see if it dips below. Oversold RSI, 200MA, Fixed Range Volume Zone.
2. The $100-$113 range: We had previous resistance at these levels back in July as well as a Fib Retracement Level. If we break under our first buy zone mentioned above, this is the range I feel very good buying at for a while.
3. The $82-$99 range we feel is very unlikely, but anything is possible. I do however doubt institutions wont start buying it up and not let it hit this range but if we do, and we get that golden pocket range, going in heavy. Wouldn't be surprised if we see even more buy backs announced.
We'll be watching
Feel free to give us a follow and shoot us a like for more analysis updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Feel free to give us a follow and shoot us a like for more analysis updates.
APPL is currently down 20% from it's ATH from just 30 days ago. Should you be worried?? Let's take a quick look back at the last year for some perspective. During a global pandemic, with stores closed, people losing their jobs, future market uncertainty, civil unrest and riots, Apple's stock rose over 150%. We also saw a stock split and a Apple managed to come out with surprise earnings every quarter, again.
Fast forward today, stores are opening, we're entering the 5G era, Lidar is making waves and allowing new AR possibilities on your phone, rumors of an Apple Car are looking more and more like a reality. A huge sector that Apple is slowly but surely making their way into is Apple Healthcare ( you can see here for yourself: apple.com/healthcare/ ). There's already several stories of people detecting cardiovascular issues because of early detection thanks to their Apple watch monitoring them. With more and more sensors and apps being developed on the watches (blood glucose sensor, capable of telling diabetics when their blood sugar levels are dropping to dangerous levels is a massive one), there's huge untapped potential in this industry. Jumping into the technical analysis side:
TA
As you can tell, yes, we're bullish on Apple long term. We will be ladder buying our way through this one on all the dips by levels.
These are some of the level's we're watching now:
1. The $118-$113 range where we've seen a lot of volume right after the pandemic crashed the markets since last March is a buy zone first. We're also met with the 200MA in the same area. This support zone alone will be interesting to see if it dips below. Oversold RSI, 200MA, Fixed Range Volume Zone.
2. The $100-$113 range: We had previous resistance at these levels back in July as well as a Fib Retracement Level. If we break under our first buy zone mentioned above, this is the range I feel very good buying at for a while.
3. The $82-$99 range we feel is very unlikely, but anything is possible. I do however doubt institutions wont start buying it up and not let it hit this range but if we do, and we get that golden pocket range, going in heavy. Wouldn't be surprised if we see even more buy backs announced.
We'll be watching
Feel free to give us a follow and shoot us a like for more analysis updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Feel free to give us a follow and shoot us a like for more analysis updates.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.