- Market Commentary -
February 9, 2010 (FinancialWire) (By Frank Kollar) Shares of Apple Inc (NASDAQ: AAPL) have lost ground since the announcement of their highly anticipated tablet device, the new Apple iPad.
A couple weeks back we wrote; shares of Apple are not acting right.
Since we wrote that, share prices have declined almost 10%. There are several other negative indicators to worry about.
Apple shares look like they have had a bearish double top on January 5 and January 19.
Apple shares have broken below a rising trend support line that has held all declines since May 14, 2009.
Apple shares have crossed below their 50-day moving average.
All of these bearish events could add up to nothing more than a normal correction, except that they have occurred right after blow-out earnings and the Apple iPad announcement.
We are looking for declines to reach $151.57 in coming months, and possibly $136.47.
Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent. For 2008-2009, his strategy resulted in a 81.9% gain, all achieved by trading trends.
Kollars research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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{ 6 comments… read them below or add one }
Gee, nice call, the entire market is down too. Do not listen to this man…he has been completely wrong.
Wow..anything can happen, but if AAPL gets that low it’s trading at 8 times earning (less cash). Given they are growing at 30% and have new products in the pipeline, have shown consumers buy their products even in bad times, then we’ll have to see the DOW also drop to around 7200 to see Apple at this level.
This guy is an idiot. No chance of apple falling to 151 range. Technical analysis is great to protect short term trends but to protect moves months in the future holds no water. Congrats on making 80% in ‘09 apple returned 150% so instead of paying crazy fees for your advice you could double your performance for free.
This is nonsense. Apple is expected to rise to 275 per share,
plus their new products are brilliant.
WRONG! Apple stock will be trading near of above Google soon!
One more thing… Buy Apple Stock and hold for 2010 – 2011…
One more thing… No debt! Do I need to do a stock split to make people happy. How about a quarterly div.?
Get an iPad. Get Real. Enjoy life!
If APPL gets anywhere even near a buck fifty in 2010 I’ll start listening to Mr. Kollar with cash. But I don’t think so. APPL is down mostly because of the EU debt issue just like the rest of the market…as ‘investing’ above has already noted.