I have been so tied up with other stuff the last couple weeks or so, I completely missed this last move up. It has now slowly crept up back to near the 52 week high range. The MACD was a screaming buy back on 3/7 as it breached a new intraday high of $88.50+ Earnings are within this coming options expiration & someone BTO a boat load of April $115 strike Calls this morning. Just wondering if anyone out there has more closely been trading this, etc. to get some other insights as we get closer to the iphone release.
I will give you my point of view. @ 95/94.5 there is a exhaustion gap and seems to be the resistance. The RSI and Money Flow are nearing the Overbought zone. The volume seems to be light when it reaches the 90's zone. To me, it looks like it will not cross 95, the resistance will hold. Today it looks like it will fall on light volume, tomorrow might be a good day for it but i wouldn't risk it. I don't think this is the right time to get in, it might make new highs but it might also form a double top. If it even gets that high, doubt it will surpass the resistance level. http://img338.imageshack.us/my.php?image=aaplmu4.jpg
After looking at where its been a little more, I agree. The risk/reward at these levels does not make sense. I didnt get it in the mid $80's, so unless it blew past that exhaust point on super high volume, I am gonna wait and see.
Nice! I am assuming you got in at some point this past summer than? Are you gonna hedge it all with a collar or some longer term puts to lock in all that equity??
Time to short AAPL Weak volume climb all the way back up to the 78.6% fib and a hair away from filling the gap. I see at the very least coming back down to 90-91 soon. I got 500 shares in at 93.97
If the market holds up apple will break out above its highs. It's had a nice long rounding bottom since January.