“At least from a technical analysis perspective, Apple’s stock is poised to laugh in the face of President Donald Trump’s raging trade war with China,” Brian Sozzi writes for Yahoo Finance.
“Apple’s stock has formed what traders call a ‘golden cross’ chart pattern. The formation — typically a bullish signal —happens when a short-term moving average crosses over a longer term moving average,” Sozzi writes. “It’s interesting that the stock has made this pattern considering the fundamental risk to Apple’s business model from the now heightened U.S.-China trade war.”
“‘If things calm down [on the trade front] (which might be a BIG ‘if’), the upside could be quite bright for this Apple,’ [Miller Tabak strategist Matt] Maley says,” Sozzi writes. “‘Given the fundamental issues surrounding the stock, investors should keep tight stops on any new long position in Apple, but if history is any guide, it could rally quite a bit from current levels,’ Maley adds.”
Read more in the full article here.
MacDailyNews Take: Hopefully, in this case, history repeats.
One might think that once a U.S.-China trade deal is brokered and inked, a major drag on AAPL – indeed, a club that is wielded by naysayers and shorts whenever they wish to beat down the share price – will have have been vaporized. — MacDailyNews, May 14, 2019
The last time Apple did this, it rallied 130% – May 14, 2019
Analyst: Apple investors ‘overreacting’ to U.S.-China trade war and Supreme Court App Store ruling – May 14, 2019
Apple, Deere & Co, retail in focus as U.S. releases fresh tariff list – May 14, 2019
Gene Munster: Apple likely to be spared from China tariffs – May 10, 2019
Apple shares drop 7% this week on fears China trade turmoil threatens iPhone sales – May 10, 2019
Apple’s iOS 13 rumored to drop support for iPhone 6, iPhone SE and iPhone 5s – May 10, 2019
Apple not yet hurt by China tariffs, likely to simply absorb the added cost – May 10, 2019
Apple temporarily escapes new tariffs as U.S.-China trade war escalates – May 10, 2019
Dow futures fall after President Trump tweets ‘absolutely no need to rush’ on China trade deal – May 10, 2019
China overplayed its hand with U.S. President Trump on trade, and it could cost them dearly – May 9, 2019
Apple CEO Tim Cook optimistic about U.S.-China trade talks – February 12, 2019
President Trump says U.S. doing well in trade negotiations with China – January 23, 2019
China’s 2018 growth slows to 28-year low, more stimulus seen – January 22, 2019
Apple CEO Tim Cook: I’m very optimistic about U.S.-China trade talks – January 8, 2019
Advisor to President Trump: Apple’s sales should pick up when U.S.-China strike trade deal – January 3, 2019