“Apple Inc. shares have bounced over the last week, but technicians warn a real bottom isn’t in place,” Tomi Kilgore reports for The Wall Street Journal. “‘The primary trend is still lower,’ said Craig Johnson, senior technical research analyst at Piper Jaffray. ‘I’ll be more interested [in Apple] when there is a downtrend reversal,’ as in the break of the recent pattern of lower lows and lower highs.”
“Since Apple began its slide in September 2012, there have been four bounces that have been bigger than the current one, in November, January, February and March. Each of those rallies peaked below the highs seen in previous rebounds,” Kilgore reports. “In addition, each subsequent low, after those bounces petered out, were below previous post-bounce lows.”
Kilgore reports, “For traders who follow the century-old Dow Theory of market analysis, a pattern of successive lower peaks and lower troughs is a defining characteristic of a downtrend. To break this pattern, and to get technicians to think a sustainable rally is possible, Apple would need to close above the March 25 closing high [$463.58].”
Read more in the full article here.
MacDailyNews Take: Less than $50 bucks to go!
Yeah, like technical anal cysts impress Apple investors 👀
Only using one moniker today? The twin postings with different handles was funny the other day. Oops!
Technical chartists: the applied theory of a dog chasing it’s tail to predict where it goes.
If Apple wasn’t such a strong company these assholes wouldn’t be doing this to it. Apple can afford to be dragged down because it has the power to get back up.
AAPL? Who’s that? These people have zero interest except to make money off of a money-machine. They don’t care about anything else. Scum-suckers.
Dickhead. There is nothing cool about a stupid moron. That is dumber than a moron. Fuck you Samsung asshole.
I think that you have something loose, Screw.
Nothing to say to coolfactor, kingmel? Apparently you are an idiot that agrees with his trash comment.
Sad comment from the low life. You have it in you to write more respectfully when you disagree with someone.
You should have stated that Screw “has the ability to write more respectfully when HE TOTALLY MISUNDERSTANDS someone’s comment, thereby making a total fool if himself.”
Screw you too, moron. Check out the language of the idiot that you are defending. Dirtbags deserve dirtbag responses.
You can rise above the level of the people you despise. You seem so full of anger. Were you expecting the AAPL stock you bought to pay your way through life?
@3l3c7ro What does your comment have to do with trying to justify coolfactor trashing Apple and chastising me? He has NO right and you are stupid. Why do you morons hare Apple. Are you hoping to get paid by Samsung. They do pay some idiots to promote themselves and try to trash Apple. Who is the scumbag you scumbags?
The stock will go up because they are using some Wall Street money – Wall Street loves when companies need their money..
Everything follows a pattern……except for the things that don’t.
Algos trade markets up and down creating technical triggers that can further move markets in directions that have nothing to do with a century’s worth of history – 95% of which was created pre-algos. Trade your charts old man, AAPL will rocket higher when the algos push the stock high enough to flush the shorts, and, with the help of the “headline-signaling” media, scare the the sheep back into their fee-collecting, sell-side broker’s waiting hands. AAPL is the best, most talked about company in the world – don’t trade it – buy it, hold it, don’t listen to the noise, and you will be handsomely rewarded.
The answers to the headline, “Apple’s bounce doesn’t impress technical analysts”, are insanely simple…
(1) Anal-ysts have their heads in their ass
(2) Anal-ysts have shit coming out from their mouths constantly.
my 2 cents…
I certainly could do without your two cents worth of potty language.
These chartists are real morons. Charts don’t tell where a stock is going unless enough funds use them to collude. That is CRIMINAL.
Why don’t these chart idiots wait until Apple price goes downward before trying to dump on it? It was up over $8 today. That is NOT headed to a lower low.
Chicken bones, animal entrails, astrology, phrenology, technical analysis….. all bogus analysis
I’ll take whatever upside on AAPL the trading day produces!
Tea leaves anyone, or maybe astrology?
The difference now is Apple is also buying those dips with a vengence as well as smart money value/dividend funds cognizant of Apple buying back 16% of their stock and increasing dividend 15% to 3%/year. Apple mgt was deeply frustrated with the stock drop and has put 100B$ to attack the problem, good enough for me. (and of course some new killer categories in 4 mo). Hearing that Apple’s margin could have been 1% higher and EPS 0.45 higher except for the China “warranty” issue a few weeks ago also is a nice treat.
Agree
I have a feeling that tables are turning right now and that the smart money is moving in. Or is it just my imagination?
I’m thinking the same thing – so either we are on to something or sharing a similar delusion.
If the smart money is moving in now, they will want to be first to ensure they pay the lowest price – hence why they aren’t giving a buy signal to the public yet. Once they are all in, then they will give the public a buy signal, so their stocks’ value rise. They keep it going until selling time – when they reverse the process.
No new Mac Pro, a stylish but technologically dated iMac, and less than cutting edge Mac minis. Apple has focused on its mobile markets (iPhones, iPads, and notebooks) at the expense of its desktop users. I suppose this is what has some folks miffed. Redesigns of Apple’s desktop machines will be likely be mind blowing.
These big funds allot their investments per specific strategies. In particular, I think they lump aapl and google into one pot, and then they decide that a certain percentage is google’s and the rest is aapl. The money sloshes in and out. Probably an oversimplification.
Nevertheless, what I like right now is that AAPL’s going up and google down. To me, that’s a signal.