The first entry signal in Apple Computers (AAPL) was during the first week of August 2013 as indicated on the chart above, we spoke about it in this video - http://www.youtube.com/watch?v=OjTwFcecnXo. We also at that time spoke about a re-entry opportunity in the stock i.e. around the mid of September 2013 when it dropped over 10%. Since then the stock has held its pivots very well, it has moved up somewhat & has maintained its bullish stance, so this means it is still a good re-entry opportunity for new investors with a very small stop-loss at present.
The pivots to watch have changed somewhat since the last time we looked at it. New support levels are at 466, 440 & 432. We see the stop-loss for the present trend at 466, below this the other two support levels could hold, but the stock might turn turbulent & loose some steam.
Resistance levels as follows : 514, 550 & 585. The recent high at 514 is a minor resistance, crossing this should not be a tough task for the stock. But it is an important resistance because moving above & closing higher than 514 would make a simple higher high, hence approving the trend again for the first time since August. Further targets and resistances are seen at 550 & 585. The resistance at 585 is the more important resistance & we might see the stock struggling for a while at this price point. Breaking through 585 & closing over this price significantly would be highly critical for the stock to remain bullish in the future.
The stock has signaled a bullish move & has remained largely sideways to up-wards for the last few months, as of now we do see the stock to be bullish & AAPL is still a very good re-entry opportunity with a stop-loss at 466. The stock at the present prices has a very low opportunity cost for investors.
Apple Inc. (AAPL) trending up-wards