Apple (AAPL) is a Good Buy Here
I was surprised today when I started to mark up the Apple (AAPL) chart this morning, just how much I really liked it.
Of course there are a myriad of fundamental reasons why people should or shouldn't buy the stock, but at the end of the day, the chart is either bullish or bearish, and in the case of Apple it is clearly BULLISH.
After the FOMC minutes comes out, I am going to be mighty tempted to nail down a position in this stock and see where it can go. From the risk stand point, I wouldn't let price drop below 408 before cutting losses, but that is a 13 point risk for what I believe has a +40 point reward opportunity. That is an ideal 3:1 trade setup and that is hard to pass up.
Here's the chart on Apple (AAPL):