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SSS - Follow-up on Apple (AAPL) and Alexion Pharmaceuticals (ALXN)in a strong market

AAPL is making an attempt to clear the intra-day high f the gap-down day of about two weeks ago. In our view, and based on studies of prior short-sale "model stocks," AAPL is in a position to rally here within the context of the general market. Therfore we would leave the stock alone on the short side for now until and UNLESS we see the general market roll over and top. It is also possible the stock could rally into the 480-500 level, which is consistent with other leading stocks that have topped in the past.

Alexion Pharmaaceuticals (ALXN) remains within the right shoulder of a head and shoulders type of formation, but with earnings coming up one must consider the risk of remaining short anything in a strong general market. At the very least, if one is bold enough to short the stock around these levels, then a stop at the 50-day moving average should be adhered to. In our view, however, we believe investors are likely to find more "love" on the long side of the market at this time.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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