Apple Inc. (AAPL) - Update On Setup From Last Week
Last week I wrote about a trade that was setting up in Apple Inc. (AAPL) which was basically a flag formation. Since that post, AAPL has broken out of this formation and has just made a new high for the year as of today.
Today's volume was also the best we've seen in the past two weeks which helps add a bullish tone to the current short term rally. Today Apple Inc. (AAPL) closed at 318.27 which was up 5.47 from Wednesday's close.
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2 comments:
Yes, it looks like AAPL started to climb up only after making retracement back to $300 level. Don't you think AAPL will continue to move higher? That is as long as there is no sell off in the stock market
michelle,
yes... not that i expect AAPL to get any growth premium. it's been trading with a p/e~ 17-23 since the low 100s with well over 50% growth.
the reason that AAPL the stock will continue to move up is simply to keep the P moving up with the E. investors should just buy... swing traders should buy when the p/e is under 18 and sale over 22.
despite what the press (i.e. cnbc, etc), appl has much more growth in it's current top two markets (phones, macs) with less than 5% marketshare, let alone the new markets they may enter in the future. aapl could double every for the next several years and not put a dent in those markets.
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