Is AAPL stock making a move?
I’m not a big fan of Apple, even though I’ve owned a few iPods, and I’m using an iPhone now. One thing I heard this week is that I may not even need to know anything about the company in order to make money on the stock. This is from an almost purely technical day trader although I realize individuals have their own style. Everyone knows the iPad is coming out but will it be a big hit? I decided to jump on the bandwagon for this stock on 1/29/2010 at a price of $192.50. The main reason was that there seemed to be significant 6 month support for this stock at that price level. Now, looking at the stock today hitting close to $220, it has cleared the old resistance of $215. It if stays this way, it may be one step closer to what the analysts have projected:
1/26/20210 Barclays Capital – Target Price raised to $265, closing price for the day was $205.94. Overweight
1/26/2010 BroadPoint AmTech – Target Price raised to$264, closing price for the day was $205.94. Buy
2/12/2010 Needham – Target Price raised to $280, closing price for the day was $200.38. Buy
Here is the chart from http://www.finviz.com/quote.ashx?t=AAPL&ty=c&ta=1&p=d, I hope it closes about $219 today, above the previous ~ $215 resistance.
I’m just a rookie chart reader but I love my iPhone and I’m banking on more people around the willing buying more iPhones when certain carriers lose their exclusive rights to sell them:
I’m planning on posting some statistics this weekend that I gather from all the analyst postings in the last month. Unfortunately, this is more data than I thought I’d ever have and I haven’t found the time yet to look through it.
UPDATE: No posting this weekend, one of those adware programs wiped out my computer and I had to do some major clean up. Let me know if you have this problem where ads pop up for antivirus software and fake virus alerts pop up. I’ll tell you how I fixed it.