If you are not in already, don't chase it to get in now. You should wait for it to break $470 decisively. If it does break out of $470, there will be a lot more to go. If it can't, there could be a significant pullback. It isn't about price target. It is an issue of probability.
Elliott wave crossover? I have no idea what that is. I don't use Elliott wave, too difficult and confusing. I stick to a handful of simple indicators and candlestick charts. They give me more reliable results.
I for one appreciate your insight. There are just so many inane comments on this board; it's incredible people actually give YOU a thumbs down. Question: is it true that the share price needs to close above 470 for 3 days to confirm a break? And why not just the closing price of $463.58 on 3/25 to confirm a higher high. I thought it was the closing price and not the intraday high. Thanks, in advance, for your help!
I appreciate it as well. These boards are populated with adults living with their parents who sit around thumping their chests about shorting 1,500 shares of Apple, blah, blah, blah. The margin requirements to do that eliminate 99% of the population. Does anyone really think these bozos are sitting around with $1 million plus liquid in brokerage accounts? It's so sad we cannot have actual adult discussions on these boards without all the Step Brothers polluting the discussion.
Of course if it closes above a breakout for three days the breakout is confirmed. But I think you can determine that earlier by looking at the candlestick and the up/down volume ratio on the breakout day to see how strong the breakout is.
this is the steepest up run of its length and duration that I can find in the last 10 years
there are however runs that it made where it went another 30% longer without a significant pullback (though they are not quite as steep and lasted about 50% longer)
but yeah, it seems very ripe for a pullback in many technical ways
Don't be concerned. Many unhappy folks here as the whip-saw action in this name has bloodied noses on the bulls for months and then the bears with an astonishingly quick reversal and rapid ascent, as they were leveraged the other way......OUCH!!!! People who get punished this way want anyone who managed this profitably to join their pain party. So just grin and bear it.
pureinvestor...I enjoy reading your technical perspective on aapl whether I agree with it or not. Like aragre said, it's a guess...nothing more. Welcome to the guessing game all traders and technicians play on a daily and hourly basis. Now, even long-term investing has a guessing element, of course. But, over the long-term, with good/great companies, much of the guessing and technical noise gets muted. That's why I prefer long-term investing. No thumbs down from me...keep posting. But, understand its a guessing game you play.
Sentiment: Strong Buy
Todd, Of course it is a guess. But there are high probability guesses and low probability guesses. Playing roulette is a low probability guess. Playing lotto is an extremely low probability guess. Trading is about finding the high probability guesses and technical analysis is the tool to do just that.
You misread my post. I am not saying that it will never go higher. But in order to go higher, it needs to break the $470 resistance. If it can't, there might be a pullback. So for the folks who want to buy should wait for the breakout before taking actions.