Selling covered calls a great strategy .... I don't understand why everyone "chasing yield" doesn't do it.
When volatility was higher you could get an 8% annual return on the premium of a 10% out-of-the-money call. ... with div, you could make 20%. In 2012, I bought AAPL at 520 and sold 570 calls for $50...then AAPL dropped to $390. It SUCKED, but I made 10% cash that year and held the stock. Those same shares are worth 910 now. My point is it can work as a hedge too if the market takes a turn.
You may be right....LONG term, it's targeting $175 from a technical standpoint. Next couple of weeks, targets are 136.86 and 141.00. Looks like it's going slow and steady.
Stock was going down at this point from 133 to 128. Everyone getting nervous. Everyone saying no more catalysts.
There is a wall of resistance from 69.70 to 70.39 and then some more one step higher at 71.89. SOHU's tried twice to get through the last couple of trading days. If the QQQs keep rocking and some more Chinese tech co's beat, it could/should break through...and then it will have room to run up to the 78s. GLTA.
Target 1=136.86 then Target 2 =$141.00. Unless there's some crazy market sell off, I wouldn't be surprised to see both targets met within the next couple of weeks. AAPL should actually be a safety buy for investors (good dividend with growth), but for some reason, people would rather buy Treasuries.
That's what Tim Cook said in a recent conference call. If you look at Apple's Annual Report, Apple did $65.2 Billion in Net Sales in the Americas; Greater China did 29.8 Billion. So Tim Cook's prediction means AT LEAST $36 Billion more in net sales coming from Greater China.
From a technical basis, the long-term target for AAPL from here is $174.68. That is the 2.618 Fibonacci Target (3rd and final) off the weekly chart. AAPL has already surpassed Targets 1 (113.16) and 2 (128.93).
Maybe Carl Icahn isn't so crazy.
For short term upside, i.e. a move after a good earnings report.... Look for Targets 1 and 2 off of the Daily Chart: $136.86 and $141.00 respectively.
Failed at 127.31 (called 127.32 resistance) and made a new low at 126.61 (support here). If that low stays in tact tomorrow, then would need to clear 126.20 by a decent margin to start moving toward 129 target.
Don't Worry! It made a higher high and is pulling back into short term support right here. There is more short term support, too, below since it has been making this stair step up. Low of 126.73 right here. If it can break above 127.32 by a little margin, should be good to power back up.
Caveat: If we drop below 126.73, you need to racalculate the "micro" resistance at 127.32....add .59 to the potenital new low
No stock goes straight up.... no resistance on that pullback; just a "breather". IMO, we'll see 129.06 at least in the very near term.
Okay....so on 4/9 I wrote: "There is a good support zone at 124.52 - 124.73 so hopefully it holds that. If not, would target 121.73."
Apple held at 124.66 and started moving up from there. I also wrote further in that thread it should be good for a $2-$3 pop, which it is at now. It's cleared really short resistance now and should get to an immediate target of 129.06. From there, though, look for resistance; I've called it a mini wall at 129.98-131.05. I would be surprised to see Apple break that wall before earnings, but if/when it does, look for a longer target of 136.
Low today was 124.66, right in that support zone. There were buy triggers, and it made it through the short term resistance of 126.11. Now we SHOULD get the $2-$3 pop .... 129.03 is target 1 --- right into daily resistance though.
Today was a good technical day for escaping a fall out of bed .... fundamentals need to pull it up through all the higher daily resistance (128.98 to 131.05).