Here again is Monday's chart with the breakout range marked.
Wednesday, October 18, 2006
AAPL Entry Point
In Monday's post, I noted that a breakout over $77.50 after earnings would be a good entry point for AAPL (Apple Computer, Inc.). After today's bell, the company posted good earnings (although iPod sales weren't great) and, as I type, is trading over $78. I don't like to trade after hours, so if the stock is trading above the break out point tomorrow morning, and has not run up too far, I'll probably enter long. I wouldn't be surprised if this is the catalyst to challenge its high at $85.
Here again is Monday's chart with the breakout range marked.
Here again is Monday's chart with the breakout range marked.
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2 comments:
i understand the logic behind the 77.50 breakout point but considering the market conditions overall, i.e., overbought, etc... i dont know, i am a little hesitant with AAPL or maybe i am just too much of a permabear...
After highs were above 79.5 and it's kinda far below that now... not sure whats going to happen...
By the time I checked my watchlist, AAPL was above $79.25, so I passed on taking a position. I may buy if there is a pullback.
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