Apple - became the BLACK SHEEP of the tech stocks

٢ نوفمبر ٢٠٢٠

So, let’s say it all out loud - from wall Street tech dearest to the black sheep....
Apple Q4 earnings broke record high on Mac sales / iPad sales / Services but didn’t bring in the numbers on iPhone sales ... ok so ? this stock used to be the most valuable stock for the street and now because of high expectations its being looked at under a microscope.
LET’S TALK TECHNICAL:
so support level since stock split is obviously 110 as you an see it gave us 2 fake outs and went back in line , today would be considered the third fake out but all and all the support is holding fairly well.
Resistance is currently at 125 but as it seems it haven’t been tested enough to be established as a strong resistance.
Stochastic is under the 25 line - oversold.
the volume displayed at the last couple of days shows us its mostly institutional volume and not retail traders losing faith in the stock or company - institutional sell offs are not rare and must be identified, so we the retail traders will understand the source of the drop .
the market cycle - ABCD we are seeing is yet to be completed and in the MCBA ( market cycle based analysis ) that we use in FDGT foretells us that the next move seems to be a completion of the cycle and it is a rising one all the way to 135$ if resistance will not hold which seems at the moment it won’t.
let’s add to that the fundamental side:
- the stock is valued at 135$ - 140$ by the firms in the "street", so the pressure for it to rise is only getting bigger ! along with the bottom line that the Q4 earnings were successful and the services income doubled from previous quarter - services profits are much more meaningful then providing goods as their cost to the company is far less costly .
combining all these factors and the technical indicators we have, Apple for me is a STRONG BUY! no questions asked.
Target price is 135$

This is not an investment advice of any sort but our own personal opinion

Trade safe!

٥ ديسمبر ٢٠٢٠

تم فتح الصفقة

we are on the way to the 135$ line - i believe by Feb 21.hang in there :)