What Happened to Apple Inc (NASDAQ: AAPL)? Asks Market Timer Frank Kollar
December 2, 2008 (FinancialWire) (By Frank Kollar)
Shares of Apple Inc (NASDAQ: AAPL) topped out at $95.00 last week as a holiday rally took most stocks higher.
But the holiday rally is over and so is the rally in Apple shares. Apple needs to close above $95 before traders can expect a chance for higher highs.
On the flip side, support is at $79.00 a share and a close below this would likely result in considerably lower lows.
Look for a buying opportunity if the stock market manages to hold above its lows this week and if Apple closes above $95 a share. The target is $111 a share.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
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