“One stock that has been much weaker than the market over the past six months is Apple Inc. (AAPL) as it is down 23.4% versus a 16.8% gain in the S&P 500,” Tom Aspray writes for Forbes.
“There is an Apple developers meeting on June 11 but as candlestick and pivot expert John Person pointed out, the stock could trigger a monthly HCD today,” Aspray writes. “This is one of the two signs that Apple Inc. may finally be bottoming.”
Aspray writes, “The monthly chart of Apple Inc. shows that in addition to the weekly LCD that formed at the September highs, a monthly LCD was triggered at the end of October.”
Read more in the full article here.
Weird terminology!
This article illustrates why I place little value on TA. With the clarity of 6 weeks of rearview mirror watching, and a run up of $65.xx (15%) on strength, Goldman Sachs (among others) advising its clients to go long, and this guy says AAPL “may finally be bottoming”.
Why not trigger a PPC with a monthly ULC? Form an HTC at the June highs and we’ll all be H/A/PP!
Well, if you factor in the LSD, TCP and the BER you have a HAN GOV ER.
Jax,
Good one! You said it!
What Goldman said makes me think Aapl not bottoming.
Just buy a great company…