Shares of Apple Inc (NASDAQ: AAPL)
Not Acting Right Says Market Timer Frank Kollar
January 28, 2010 (FinancialWire) (By Frank Kollar)
Shares of Apple Inc (NASDAQ: AAPL) have seen huge swings
this past week as the market was served first with a greater
than expected quarterly earnings report and then on Wednesday,
the announcement of the highly anticipated tablet device,
the new Apple iPad.
Here is a question: With blowout earnings this quarter
and a new apparently well received Apple iPad announced,
why are shares of Apple up only 1% on Wednesday? And why
are they not at new highs?
Something may be wrong in Apple land.
If shares can close above $215.04, their prior rally high,
they should reach the next resistance level at $222.76.
This is not much gain potential considering this stock
is not acting right.
Of course tomorrow the stock could rally and the above
question will be moot. But bullish traders may want to
take some chips off the table until some strong upward
momentum is reestablished.
The http://www.fibtimer.com Stock
Strategy has a position in Apple Inc.
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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