To Those Rushing to Buy Apple Right Now 2024.12.30Hello, this is Greedy All-Day.
Today’s analysis focuses on Apple (AAPL).
Weekly Chart
The chart above is a weekly chart of Apple, and it serves as the perfect explanation of why now is not the time to buy Apple.
Since 2004, Apple has consistently maintained an upward trend, repeatedly hitting new all-time highs.
Of course, with such a strong upward trajectory, buying at any level and holding long enough will eventually yield profits.
But aren’t we here to maximize our returns as chart enthusiasts?
We’re not just blindly throwing money into the market like those who don’t study charts.
Let’s get to the point:
After the subprime mortgage crisis, Apple has always experienced corrections of 30% or more from its highs.
Shouldn’t we be waiting for the 30% correction before considering a buy? Buying now, at the highs, is far from ideal.
Daily Chart
Historically, Apple has seen massive corrections, such as an 83% drop and another of 64%.
While we may not expect such extreme corrections now, 30% corrections from highs have consistently occurred.
Looking at current levels:
The white box zone, representing a 30% correction, would bring Apple to approximately $180–$164.
This is where we should start considering entries rather than buying now.
Zoomed-In Daily Chart
A closer look at the daily chart reveals that the 20 EMA and 60 EMA are currently in a strong uptrend.
However, analyzing the angle of the upward trend since April 2024, we can estimate that price consolidation may occur until approximately February 2025, when the price could test the trendline.
If the trendline breaks, a one-way decline toward the white box zone is likely.
What’s next?
While the white box zone is a logical area for initial entries, patience may still pay off.
Coincidentally, the timeline aligns with the U.S. presidential transition, which could amplify a downward correction.
If this happens, the price may dip into the orange box zone, potentially reaching the green box zone at its lowest.
Conclusion
Don’t rush to buy Apple.
Be patient. The right time will come.
Buy smart, not impulsively.
Timing is everything, so let’s trade wisely. 🚀
