Behavior Of Apple Stock On The Release Date In The Past!
With the release of Apple's new iPhone (s), investors may be wondering how Apple stock will behave on the release date. Let's take a look at how Apple's stock price has moved for the previous iPhone releases to see what we can learn.
iPhone 4S announcement October 4, 2011
Low $354.24 (5.3% down)
iPhone 5 announcement September 12, 2012
Low $656.00 (3.6% down)
Today, I turned bearish for the next 1-10 days but I am bullish mid to long term (6-12 months). The positive effect of the iPhone5c in China and emerging markets will show up in the quarters to come.
For Tuesday's/Wednesday's announcement, I'll expect the stock to sell off. Two support level to watch for: $487.22 and $467.36. I turned bearish since the key resistance ($507.74) was not broken, again. Please check the chart on August 15, 2013 and today's chart then you will see that $507.74 is a major resistance.
Please don't get me wrong. I am bullish mid to long term (6-12 months) but bearish on (very) short term.
I bought Sept 2013 490 put option (sold my shares around $507.00).
One thing that is missing is the 33 million shares Apple bought back in the most recent stock buy back reducing the float so these specific share price comparisons no longer apply as the floats do not match.
You hope you could be of help? You were of help. Help to teach everyone to do their own DD because you just posted a bunch of beee essssss! You better try a different tactic to talk up your short in apple Jack #$%$!