Sharp decline of all stocks across this sector, AAPL selling off from $328 down to $256. As previously charted, we considered this a temporary sell off or profit taking, a smaller correction. Once price hit $256, it triggered quite a bit of purchases. Volume rose quickly on Friday, and the day ended at $273. Aftermarket saw some increase in price, current asks are around $276.
I would not be suprised to see a nice return today, we may not be out of the danger zone yet, but we saw a great bounce off the 38.1% short term fib level, and a potential retrace set. Over the weekend, we saw an upgrade by Oppenheimer to Outperform and a target price of $320. Don't forget the actual quarterly profits of this stock, when considering 'the coronavirus sell-off'. This is a much sought after stock, and I think $256 was many peoples buy-in price.
I will be placing a market purchase today, we should see a good return on some stocks in this sector, and am a long term believer in this one.
I would not be suprised to see a nice return today, we may not be out of the danger zone yet, but we saw a great bounce off the 38.1% short term fib level, and a potential retrace set. Over the weekend, we saw an upgrade by Oppenheimer to Outperform and a target price of $320. Don't forget the actual quarterly profits of this stock, when considering 'the coronavirus sell-off'. This is a much sought after stock, and I think $256 was many peoples buy-in price.
I will be placing a market purchase today, we should see a good return on some stocks in this sector, and am a long term believer in this one.
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