“Anyone closely following the action in Apple’s chart in the last four days cannot help but observe an encouraging trade pattern: the stock’s trading in a narrow range with an upward bias,” Panos Mourdoukoutas writes for Forbes.
“From a contrarian perspective, a narrow trading range with an upward bias at a time of maximum pessimism is a sign that the stock has bottomed — the same way a narrow range with a slightly downward bias was a sign that the stock had topped a few months ago…a time of maximum optimism,” Mourdoukoutas writes. “However, stock charts should be interpreted with caution; they confirm correlation rather than causality, and look in the rear-view mirror, assuming that the future is a repetition of the past. That’s too generous an assumption in the rapidly changing high technology universe.”
Read more in the full article here.
An Assumption …… Exactly. JESUS praise The Lord!
Still too much discretionary income out there, so guess who has their eye on your hard-earned money? Not Apple. Follow the stocks. This may be the last “up cycle” until they have everybody’s money.
You gotta be kidding me. The stock has seen similar patterns for days on the way down from $705 and there’d even been calls made that the stock was on its way back up when it was around $580 and $530. I wouldn’t trust this stock’s movement for anything.
I’m sure the hedge funds can move this stock any way they want to give false readings, make them look favorable for investors and then pull out the bottom again. No thanks. The stock is either going up or it’s merely trading sideways for a short time. I know I can’t tell the difference and neither could Andy Zaky. There’s no major catalyst that I know of to move the stock back up. Reading charts might be a time honored skill but I think the hedge funds change all that. The hedge funds are playing some game of musical chairs and probably only they can hear the music stopping or starting.
I think you are right Laughing_Boy48 (if that is your real name). 🙂
No, real name is DepressedBoy_ShouldHaveSoldat705!
If we all get pessimistic enough the stock will go . . . which way?
The market responds to the greed or fear of the traders in the market. As long as there are enough pessimistic sentiments out there, the stock will languish. So, keep on putting the stock down in post after post and you will get your wish. Negativity breeds negative stock pricing.
Indeed large “investors” (should I call them “speculators”?) can actually force a well-known pattern to appear in the AAPL curve, and then feed some additional FUD into the media, thereby creating a virtual world and fooling fellow traders and nanosecond algorithms.
I am holding about 330 shares of AAPL. Although it is sad to see it drop for some stupid rumors/excuses, I want to collect some more at the crazily low level . When AAPL rises back , I will be awarded.
2.4% dividend…..can’t get that at the bank? So parking my money here isn’t all bad?
Pyramid scheme!
APPL may be going up, or maybe not. Another analyst says nothing at all in 200 words.