Apple has ended the week right where it was meant to be.
It needed to come back and establish a definite support at $525 to $535 level as it rocketed upwards thus leaving a temporary gap down here. Well now it has filled it . Therefore we are cleared for a true and clear take off upwards in the coming weeks. I certainly was not surprised that it same back to test and fill the gap. This needed to happen for true signal of support. Personally I feel better about it moving higher from these levels than I did last week, knowing that there was an imminent situation of it coming back for filling the important technical fill. That's it folks . Hope some will respond fairly to this post.
In my opinion,I don't see why it can't make new highs beyond $700-best quality products,great space to be in-lots of growth ahead for smart phones and tablets-China just beginning to open up-China Mobile will come on board-ITV will be introduced,etc.---undervalued now--what not to like OMG!!!!
I posted the following in another thread. I agree that AAPL is at a definite support level. However, I don't think that there will be an immediate takeoff, nor need there be for people to buy at this price.
The stock is about at its multi-year regression line, calculated up to last Fall then projected out to the current time. There was a period when things got out of line & the stock has returned to its trend. What's interesting is that for the six month period between the Q1 run up & Q4 decline, AAPL's regression line is almost exactly the same as the multi-year line. So, the stock got ahead of itself in Q1, then moved up at the same rate it has for years before falling back in Q4 to the long-term line. Basically AAPL is right where it should be. Stocks always seem to magically return to the trend line.
There's nothing wrong with being on this trend, it's very good. In a year, the stock price should reach $645 or so. I'll take a 21% return any day. If things work out, the return could be much higher but right now, until sales numbers prove something has changed, I'm happy to have the stock at the current price.
In addition to the long term trend providing support at about $530, AAPL bounced off of this level in March, May & November which provides some more strength that it will again find support there.
Finally, you have the fundamentals, which are good. The recent price movement along with fundamentals will bring in a lot of new investors to the stock who didn't see where they'd get a return when the stock was at $700, but at $535 the path to a good return is a lot more clear.