Off your game?
Read our free, updated as of Mar 3, 2022, Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
Your email will always remain private.

SSS - The Apple (AAPL) Mosh Pit, Part 3

We are getting asked about AAPL so much these days that even U.S. News & World Report is asking us about our "dead right" call on AAPL based on articles we wrote in Forbes and MarketWatch.com over a month ago. Now that the major media is picking up on AAPL's weakness, we have to wonder whether this isn't a contrarian bottoming signal. The clearest picture, however, is offered by the daily chart, below. We can see that the stock picked up some buying volume yesterday as it held what has been near-term support over the past 4-5 days at the 115-116 price area. Unless AAPL were to breach this level on some decent selling volume, the pattern remains inconclusive, although it would also not surprise us to see the stock start to engage in a reflex rally off of these lows if the general market continues to exhibit strength. Shorting stocks, even "weakies" like AAPL in a strong market uptrend can be much like tinkling into the wind, and when it comes to AAPL, if the general market continues to rally strongly then it will likely resist breaking down, at the very least. So far, the stock has seen resistance in the 530-535 area, roughly the peak of its recent range, while the 515-516 area appears to offer support. It is simply a matter at this point of watching to see in which direction the current pattern resolves itself, but yesterday's pick-up in supporting volume may be a clue in this regard.

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.
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy