Apple’s breakout suggests downtrend has ended

“It took six months, but Apple Inc.’s downtrend appears to have finally run its course,” Tomi Kilgore reports for The Wall Street Journal.

“Apple quietly tested, then aggressively broke through, a widely watched downtrend line that began at the Sept. 21 all-time intraday high of $705.07,” Kilgore reports. “It was the first time Apple had cracked the trend line since it was initiated, and the stock’s behavior around that trendline on very short-term charts on Monday helps confirm its longer-term importance.”

Read more in the full article here.

14 Comments

  1. Sure. Sounds good. Down little bit today though. I’d still be very careful here. It has had a run-up due to the impending dividend and share buyback announcement that hopefully is coming very, very soon. So be careful.

      1. The guy who wrote this is also Al Gore’s Global Warming Conference planner who schedules Al’s conferences when it has wither the lowest temps for the year or 2 feet of snow on the ground! Brilliant Apple BoD!

    1. Don’t watch the Closing price, watch the intraday low (all prices are higher than the intraday low). With an intraday low (at time of posting) of $449.20 (highest since Feb 19), AAPL is UP $8.00 from yesterday’s low.

      The run continues.

    2. If you’re watching the market you’ll see it’s a general decline today, probably because the European Union decided to raid Cypriot savings accounts to bailout their banks. Bad news. When my GIS goes up so ever slightlty that’s when investors find solace in food stocks and away from the general market.

  2. If Apples only competition is the plastic surfboard tablet…er…phone that Samsung just released, then buy AAPL and don’t look at it for a year. Samsungs CEO tried to smooth over the huge round…er…square…er…maybe round surfboard scenario by saying their focus was on it having a soul. It is a phablet plain and simple, where Apple is smart enough to see two categories for a phone and a tablet. Apple doesn’t need to make a low cost phone, just lower the cost of the previous model. Why clutter up a great product line. I would buy an iWatch, though, if it was curved and not bulky to wear. I think the nano changing shape is an idicator of a future iWatch.

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