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Tuesday, February 27, 2018

Apple Inc. - New All Time High - What Now ? #AAPL

The stock was able to recover significantly as expected: Starting from 150 $ the Wall Street (and Warren Buffett's) darling has gained 20% the past few weeks again. Today, the stock even hit a new marginal all-time high at the $ 180 mark.

Outlook from a technical point of view:

Except for a smaller consolidation phase in the past week, the Apple share rose from the February low without major corrections to north. At this new all-time high today some market participants likely will take profits.

After the recent rally, bulls will take a deep breath. Profit-takings are expected to start a consolidation phase, or even minor technical corrections, in the coming days.

The risk-return on the long side therefore is unattractive for the coming trading days. It's better to stay on the sideline and look for the expected setbacks (preferred target range 173-175 $) to start a long line-up from this level.


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