Will Apple Catch A Bid At These Levels??? by rollandthomas

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investing · @rollandthomas · (edited)
$10.03
Will Apple Catch A Bid At These Levels???
<center><img class="alignnone size-full wp-image-2556 aligncenter" src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2018/12/aapl.jpg" alt="" width="300" height="168" /></center><br/>

&nbsp;
<p class="yiv1183745356MsoNormal">Three weeks ago I posted about Apple being rotten,</p>
<p class="yiv1183745356MsoNormal" style="text-align: center">

<center><a href="https://steemit.com/stocks/@rollandthomas/apple-turns-rotten">Apple Turns Rotten</a></p></center>
I was looking for the daily demand level at $174-$176 to hold.
<p class="yiv1183745356MsoNormal"><center><img class="alignnone size-full wp-image-2557 aligncenter" src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2018/12/aapl2.png" alt="" width="640" height="299" /></center><br/></p>
<p class="yiv1183745356MsoNormal">But it was recently breached last week hitting a low of $170 before bouncing higher to $185…to only fall to $170 again.</p>
<p class="yiv1183745356MsoNormal"><center><img class="size-full wp-image-2558 aligncenter" src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2018/12/aapl3.png" alt="" width="1560" height="771" /></center><br/></p>
<p class="yiv1183745356MsoNormal">Two days ago, I talked about Wall Street continuing to adjust their forecast down for Apple, the latest was HSBC downgraded Apple shares to Hold from Buy yesterday.</p>
<p class="yiv1183745356MsoNormal" style="text-align: center">

<center><a href="https://steemit.com/stocks/@rollandthomas/skyworks-solutions-about-to-be-a-grounded-problem">Skyworks Solutions About To Be A Grounded Problem</a></p></center>
<p class="yiv1183745356MsoNormal">However, Mark Newton, president and technical analyst at Newton Advisors, remains bullish on the stock long term for three key reasons: Momentum on a short-term basis is still positive, the weekly chart is oversold, and finally because sentiment has so rapidly turned against Apple.</p>
<p class="yiv1183745356MsoNormal">Newton is closely watching the $170 mark, which he believes is the near-term level of support to the downside. Should the stock break below that level, he believes the max downside is $160.</p>
<p class="yiv1183745356MsoNormal" style="text-align: center">

<center><a href="https://www.cnbc.com/2018/12/06/apple-has-to-hold-this-key-level-for-it-to-be-a-buy-says-technician-.html">Source</a></p></center>
<p class="yiv1183745356MsoNormal">I don’t really see anything special about the $170 level (part of the gap), but I do see that the $160 was prior resistance, which is now support.</p>
<p class="yiv1183745356MsoNormal"><center><img class="alignnone size-full wp-image-2559 aligncenter" src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2018/12/aapl4.png" alt="" width="1563" height="774" /></center><br/></p>
I also see a double bottom with positive divergence.

<center><img class="alignnone size-full wp-image-2560 aligncenter" src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2018/12/aapl5.png" alt="" width="1561" height="776" /></center><br/>
<p class="yiv1183745356MsoNormal"></p>
<p class="yiv1183745356MsoNormal">So is Mark Newtown on to something?  He might be because on the 4 hr chart I see the pattern that I look for when I’m expecting a reversal.  If price can take out the $185 level, the chart suggest, price can reach $195.</p>
<p class="yiv1183745356MsoNormal"><center><img class="alignnone size-full wp-image-2561 aligncenter" src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2018/12/aapl6.png" alt="" width="1561" height="771" /></center><br/></p>
&nbsp;

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions. &nbsp;

<hr />
<p style="text-align: center;"><em>Published by <a href="https://mentormarket.io/rolland">Rolland Thomas</a>
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@upvotewhale ·
re-rollandthomas-willapplecatchabidattheselevels-ec2nmrchl2-20181207t064856947z
You got a 100.00% upvote worth $0.049 from @upvotewhale courtesy of @gex231!
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@newageinv · 
It all depends on where the economy goes for sure.  Those levels represent interesting valuation levels based on growth prospects but if the economy starts to slowdown, the base will fall as well.  However, given their huga cash balance sheet and increasing rates they have a good cushion long term.

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@rollandthomas · 
Totally agree, price point is on sale, should be good for a bounce, but not expecting much more.
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@ziomar ·
willapplecatchabidattheselevels-ec2nmrchl2
Hi there,
I've just upvoted this post
A small contribution from me, to help the steem community to thrive ;)
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