The Master Pivot Point on Apple Inc. (AAPL) Stock

Apple Inc. (NASDAQ:AAPL) has started to fall again, trading at $527.06, -15.04 (-2.77%). Many investors and analysts are perplexed, wondering whether it is headed to new 52 week lows, below $500.00 per share. The charts tell the truth and will be explained below.

Note the bottoming tail on November 16th, 2012. That was the low pivot in the second half of 2012 and even though the price was retested and pierced, it never closed below that low. This puts a line in the sand at the low of $505.75. As long as AAPL does not close below this low pivot on the daily chart, it has potential to bounce. We have seen this bounce many times in the last few months and never has the stock closed below it.

Should Apple Inc. close below $505.75, it will fall fast. This would represent a technical breakdown with the next major support being at $470.00 – $475.00. Secondary support and the ultimate low would be $425.00. Both represent buying opportunities. The $470 – $475.00 level would be a near term major bounce while the $425.00 would be a long term hold level for major upside.

About Gareth Soloway 168 Articles

Affiliation: InTheMoneyStocks.com

Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial independence, he continued to study the day trading and swing trading world, developing a unique market philosophy and proprietary methods. Following his work in the financial sector, Gareth went on to trade alongside professional traders. Unable to tolerate the hype of Wall Street any longer and having an amazing ability to profit using his developed techniques, Gareth Soloway decided to partner with his friend and colleague, Nicholas Santiago to form InTheMoneyStocks.com. Chief Market Strategist Gareth Soloway serves as the president and CFO of InTheMoneyStocks.Com.

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3 Comments on The Master Pivot Point on Apple Inc. (AAPL) Stock

  1. As I stated elsewhere; notwithstanding the severity of our Country’s Economic Mismanagement; AAPL is like an Economy unto itself. To the point the BHO askes for his advise.
    The term “fiscal-cliff” was fabricated to cause fear that we were all doomed.
    While this happened, escalating maximum fear in Q4; AAPL gained on every front from product to manufacturing; from distribution to expanded retail footprint of AAPL stores; and in sales, market share and overall profit.
    So now; just as the press fabricated the “fiscal-cliff” term; they are creating an “AAPL-Cliff”.
    Yea; now it’s a pivot point; as they push toward code red the terminology will change.

  2. Apple is oversold, and will test 565 by January 26th for earnings are going to come out better then expected. Look for 5 Million I Phone minis sold in China , they sold 2 million in three days. They are having a hard time keeping up with demand. PE is at 12 currently, if you take away $ 140 billion in cash and investments, stock is trading at a 8 PE. Then over euphoria will bring it to 608. Sell at 608 to 618, for conversation will come back to US politics.

  3. Pivot This:
    Apple Inc. (AAPL) Expected to Increase Market Share Over PCs in 2013 [Report]

    01/04/2013 Filed Under: News by Samantha Lile

    Global corporate spending on computers will likely remain flat in 2013, but Apple Inc. (NASDAQ:AAPL) will “buck the trend” by selling $7 billion worth of Macs and $11 billion worth of iPads to corporate customers, overcoming a three-month stock decline.

    Forrester Research released a Jan. 3 report stating PC companies will slowly replace older Microsoft Corporation (NASDAQ:MSFT) Windows models with Windows 8 devices in 2013, after sales dropped 4 percent on the models in 2012. By 2014, however, “increased PC demand and improved Windows 8 devices will lead to a strong 8-percent increase of these products, but growth will still be less than double-digit growth” for alternative computer manufacturers, such as Apple.

    After decades of smaller market share, Apple tablets and Mac computers will continue to take share from Windows PCs in 2013, as the introduction of Windows 8 isn’t expected to end Microsoft’s decline until 2014. Forrester estimates that Apple will go on from its record-breaking 2013 enterprise sales to reach $8 billion worth of Macs and $13 billion worth of iPads by 2014

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