Potential Buy Level For Apple Stock

Discussion in 'Stock Market Forum' started by ParmMannTrader, Sep 3, 2014.

  1. ParmMannTrader

    ParmMannTrader Active Member

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    The technology sector is seeing some selling pressure today and the largest tech stock, Apple Inc.(NASDAQ:AAPL) is leading the charge lower. The popular device maker is set to unveil the much anticipated iPhone 6 next week. However, with today's price action it sure does seem like that. Apple Inc. (NASDAQ:AAPL) deflected all the criticism of the potential iCloud hack and denied any security breach. The stock is down over 4%, so should this sell off continue I have picked out an enticing level of $96.75 where investors and traders could step in and buy. On the chart below you can clearly see that Apple has been trading in a channel and the $96.75 area is where the lower end of the channel currently resides. For further reassurance the daily chart 50ma is also in the vicinity and will give support to the stock and should provide a money making bounce for longs.

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    Last edited by a moderator: Jul 8, 2016
  2. Casper

    Casper Well-Known Member

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    Nice one.:) But why the selloff.
     
  3. ParmMannTrader

    ParmMannTrader Active Member

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    I think the selloff may have something to do with samsung releasing its new phone. However, I just think it's some big players unloading ahead of Apple's big announcement next week. This could be a buying opportunity.
     
  4. richc3

    richc3 Senior Investor

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    Usually the stock rises quite a bit prior to any announcement, then drops the day before or day of. I think most people noticed the trend and might be bowing out a bit earlier.
    The iCloud breach, whether it was truly a breach or not, certainly complicates rumors of Apple planning a mobile payment service partnership with Visa, Mastercard and Amex. There is iWatch, but realistically we were hearing about that 2 years ago. Whether this is REALLY the year remains to be seen.

    All in all though, I'd probably sell around now or within the next few days if I was in. Just seems like there's more ways to go down and a much lower chance of a surprise up.
     
  5. Casper

    Casper Well-Known Member

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    Yes I think that is spot on but even so I think ParmMann has a solid entry point and a stop loss will take care of the risk factor. I think the risk/reward is good on that basis.
     
  6. gmckee1985

    gmckee1985 Senior Investor

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    Given recent information I'd probably hold onto my Apple stock a bit longer. I still think it's going to go up in the long term. Recent adversary aside. It's still a great company with a great future. Hopefully they come up with some more innovative products as things have become kind of stale with Apple.
     
  7. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I've owned it for over 7 years, ever since the first I-phone rollout. I've sold some off and bought back more here and there, but I've always kept at least a little since then. They supposedly have the best pipeline they've had in 25 years - smart wallet, watches, TVs, etc. Time will tell.
     
  8. Profit5500

    Profit5500 Senior Investor

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    How much have you made off from Apple Inc. stock? It seems like $96.75 for one stock sounds like a good investment about now. I would buy it but I don't have the money for that investment.
     
  9. AlainB

    AlainB Member

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    I've read (and want to share) a decent analysis on reddit: http://www.reddit.com/r/investing/comments/2fjgzo/a_serious_analysis_of_aapl/

    Honestly, the prediction is completely exaggerated at 140, but a lot of his points do hold some truth. Personally I disagree with richc3, and think this is a pretty decent entry point. As always, though, time will tell, there are definitely some risks involved.
     
    Last edited by a moderator: Jul 8, 2016
  10. JR Ewing

    JR Ewing Super Moderator Staff Member

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    LOTS! :D

    It recently split 7 to 1. I bought 100 shares in the low 90's in early '07 and made that back roughly 8 times about 2 years ago.

    I bought more at times over these 7+ years, and I did sell most of the position I'd built up (along with selling most or all of most other positions I had back then) in early Nov 2012, right after the last presidential election.

    I bought more again last summer.

    I've also bought puts against it prior to quarterly earnings reports on numerous occasions over these 7+ years, although not so much anymore.

    I've got about a quarter mil in it these days.
     
    Last edited: Sep 6, 2014

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