“Trade-Ideas LLC identified Apple (AAPL) as a ‘water-logged and getting wetter’ (weak stocks crossing below support with today’s range greater than 200%) candidate,” TheStreet reports.
In addition to specific proprietary factors, Trade-Ideas identified Apple as such a stock due to the following factors:
• AAPL has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $6.3 billion.
• AAPL has traded 33.8 million shares today.
• AAPL traded in a range 213.9% of the normal price range with a price range of $4.97.
• AAPL traded below its daily resistance level (quality: 181 days, meaning that the stock is crossing a resistance level set by the last 181 calendar days. The resistance price is defined by the Price – $0.01 at the time of the signal).
“Stocks matching the ‘Water-Logged and Getting Wetter’ criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility,” TheStreet reports. “Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, ‘support’ while at the same time the range of the stock’s movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.”
Read more in the full article here.
MacDailyNews Take: Every day, lately, AAPL looks ever more enticing.
“AAPL traded below its daily resistance level (quality: 181 days, meaning that the stock is crossing a resistance level set by the last 181 calendar days. The resistance price is defined by the Price – $0.01 at the time of the signal).”
Huh?
Ah, the language of stock manipulators…what a crock.
Computer algorithms chasing computer algorithms 😖😠
Google is still a positive though, nice! Bunch of bull!
Then surely you have money in GOOGL? Si?
China is Apple’s biggest target for growth and the bubble economy in China may have burst.
Add in Apple’s apparent inability to do web services well.
Funny, Tim said the exact opposite on the call and the numbers prove it – 112% increase in revenue. Did any of you bears listen to the call?
I am not a bear and his numbers are history. The Chinese economy has some very serious issues and those things are rarely felt on the street immediately.
As a shareholder I wish Apple no ill, but think it is overvalued.
Apple Music’s fault. Kill it.
Nonsense. Apple Music will have a slow start with some definite growing pains, but methinks it will become an unexpected money maker in the long run. I am enjoying it much more than I ever thought, especially with a new pair of B&O H6 headphones (deeply impressed by these cans) and so is my wife who had stopped listening to music for the last twenty years… Apple is definitely on to something with Apple Music. Just wait and see…
AAPL is correctly valued in relation to the overall market. All you fanboys get stock price mixed up with value.
A stock price is no indication of value; merely the perception of expected financial return. It’s a scientific as a crap game.
You are almost totally correct.
It’s NOT the apple fans thinking Apple is crashing. It’s the anal…ysts.
The whole market is dropping on lower oil prices. Period.
I don’t know how you want to judge “in relation to the overall market”, but today’s closing S&P500 P/E is 21 while AAPL P/E is 13.7
Excluding cash, it is around 10.
As TC would have said it every quarterly earnings, I still believe/faith
in (iPad) AAPL, in the meantime (iPads) AAPL keeps dropping. Just
forgot how to get up, needs a shitload of Viagras!
Oh, the horror, the horror.
If Apple had only resisted going public none of this market manipulation, malfeasance, and mismanagement would ever occur.
Too late now. Gotta complaint? Write your congressperson or senator.
Picked up another 300 shares @ $117.90 today. Gotta love these buying opportunities! 🙂