The Line on Apple
Note from dshort: Chris Kimble emailed me this update before the market opened, but I was swamped with economic indicators and didn't see it until a few minutes ago. It looks like Apple is having another bad day, but Chris, as usual, has an interesting take.
Apple tripled in value in the past three years along rising support line (1) in the chart below. It has paid to buy Apple each time it has hit this support line. In November, Apple lost decline $150 per share until it hit this key support line, then it bounced higher.
Now Apple is back at this support line. It has paid to buy it on this line for the past three years. Will it be any different this time?
Make you wonder, is this a buying opportunity for the biggest company in the world ... again?
(c) Kimble Charting Solutions