Trader: Selloff marks great opportunity to buy Apple

“Apple shares sold off 1.5 percent on Monday along with the broader market,” Amanda Diaz reports for CNBC.

“The stock is now down 4 percent in the past 30 trading sessions, but according to one trader, the selloff is creating ‘a great opportunity to get into Apple on the long side,'” Diaz reports. “Looking at a daily chart of Apple, [technical analyst Andrew Keene] noted that the stock has declined to its 100-day moving average for the first time since January. ‘As we see each time the stock has hit its 100-day moving average in the past, we’ve found buyers,’ Keene said Monday on CNBC’s ‘Trading Nation.'”

Diaz reports, “And by Keene’s chart work, despite the most recent decline, Apple’s chart is still healthy.”

Read more in the full article here.

MacDailyNews Take: Greece.


    1. Greece is not a factor for AAPL, but it is a factor for the market at large, which for some stupid reason always affects everything, so yes, Greece is a factor. One knocking down the price a bit so the smart money can buy. (Wish I had some smart money to invest!)

    2. Unless you think AAPL dropped today for some other reason, Greece is definitely a factor in AAPL. If Greece could drop AAPL today, it could just as easily drop AAPL tomorrow, and the day after. You should be aware that the shares you bought today is in large part a bet on Greece’s recovery.

      1. A buy today or tomorrow has little to do with Greece’s recovery and everything to do with AAPL revenue success. The Watch is hot and the iPhone 6 and 6 Plus are hot. I am buying AAPL now.

    1. The fact of the matter is that it keeps going down without anyone saying anything. There are certainly more positives than negatives for Apple but nothing seems to keep the stock from dropping (not talking about Apple only slipping on Greece (Grease)). I really thought those stock repurchases by Apple would hold the stock up higher, but that’s not the case. I’d hate to see Apple if Apple wasn’t buying back the stock. Anyway, Greece is helping Apple buy back shares, but let’s see if it helps Apple shareholders in the near future. I’ve no real worries, but merely getting impatient to see the share price climb past $133.

  1. A few weeks back, I posted on this site that AAPL would drop from $130 at that time to $125 and nearly everyone gave me one star ratings. It dropped to $124.53 and this is a buy signal.

    We have a sale on AAPL!!! Buy NOW!! The stock will start to rise soon and hit around $175 by Decemberish. If you don’t buy now, you could risk it and try to wait to see if it hits $120 but I didn’t. I pulled the trigger and bought now at $125.03.

    BUY AAPL NOW FANS. You could even wait until $130 and still catch the wave but buy and buy lots.

    1. Your insightful comment had me thinking of a Crazy Eddie ad:


      We should be thankful for the irrationality of Mr. Market. Every now and then, he cracks open the door for the astute investor. It’s a good time to add to my Apple stock, and continue to hold and reinvest for many years to come.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.