Apple (AAPL) Recent Technical Action and Future Prospects

Apple (AAPL) stock experienced well-publicized decline from over $700 down to below $400, but finally found its footing in late June-early July. Since then, AAPL has presented multiple technical set-ups to potentially provide calculated entries.

In my weekly appearance on theStreet yesterday I spoke with Debra Borchardt about AAPL’s recent movement and potential for the next few weeks/months.

Below you can see the three charts that I sent over to theStreet ahead of the segment that outline the cleanest set-ups in AAPL that have shown their face over the past few months.

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While AAPL has come a long way over the past few months, I believe after some consolidation of recent gains it can still go higher. New iPad Air Sales have been robust, the China Mobile deal opens up the iPhone to a customer base that is 7 times as big as Verizon, and we still haven’t gotten announcements about new products that seem clearly to be in the works. Prominent investors like Carl Icahn have taken stakes in the company and declared it a great value investment even without a more aggressive share buyback program.

Disclosure: No current position

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About Scott Redler 367 Articles

Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader.

Mr. Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Mr. Redler moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, continued to trade actively while working closely with all traders in the firm to dramatically increase performance.

Mr. Redler has participated in more than 30 triathlons and one IronMan, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business, Bloomberg, and he is a regular contributor to Minyanville and Forbes’ Intelligent Investing blog. He has been quoted in the Wall Street Journal and Investor's Business Daily, among other publications.

Scott received a B.B.A. in Marketing/Finance from the State University of New York at Albany, graduating Magna Cum Laude from Albany's School of Business.

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