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Has Apple and the Markets Hit Bottom?

Started by Zach Bass · 9 months ago

The markets had a nice rebound on Friday, only to give some of it back just before the close. And AAPL followed the pack. The rally can be attributed to any number of factors, of which the top contenders are extreme oversold conditions and shorts covering ahead of the G7 meetings.
And it seems ... Continue reading »

5 comments

  • mao shaowei

    9 months ago

    do you really think apple will hit 50? This really scare me given that apple has $26 in cash per share.
    reply
  • Zach Bass

    9 months ago

    I'm not saying that AAPL will hit these levels. I'm merely pointing out that these are what I would consider the absolute bottom levels of this bear market. Now, it may be possible for the Dow to hit this without the S&P or AAPL hitting their respective bottoms.
    reply
  • tim1234

    9 months ago

    The last I heard was 9 to 1 on the adv/dec line.
    reply
  • Zach Bass

    8 months ago

    Yes, an excellent day. And excellent evidence that the bottom is in. After such a strong up day, and closing at or near the high, it is highly probable that the following day will be positive as well.

    Now AAPL has strong price resistance at 115 from September 30, and a gap-down from September 29 at 120, so watch 115 and 120 as strong resistance as AAPL attempts to advance further.
    reply
  • Jack

    8 months ago

    I think Apple will announe iPhone numbers tommorow during their special event. In the short term I see Apple hitting $120 and hopefully $130-135 by earnings next week. Investors are taking advantage of these oversold conditions. Just my take on what will transpire.
    reply

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