How Do you Like Them Apples at $637.69 - 5 Reasons to Buy Apple (AAPL) Right Now
First position I've taken so far this morning and I couldn't help myself. Apple (AAPL) has been getting hammered lately, but I'm finding good reason to get long on it this morning at $637.69.
1. You have a huge sell-off that seems to happen once a quarter. Each time this has resulted in an excellent buying opportunity.
2. You have a piercing of the lower Bollinger-Band. Nine times out of 10, this leads to a near-immediate bounce in the stock's price.
3. Not shown below, but easy to do on your own (would make the chart too messy) is the perfect 50% retracement on the Fibonacci.
4. Perfect test of the trend-line off of the May lows. We touched it this morning and have since bounced.
5. Massive support at $620 that should stop any additional bleeding going forward. I've placed my stop-loss at $613.46.
Here's the AAPL chart.