Marc,
Welcome to the board. Apple didn't get any impact from Adobe's bad
quarter and its intention. Gosh, It was scary this morning, but after
seeing the steady price in the first five minutes, I felt relaxed.
Today's strong trend indicates the continuing bullish on the stock
will be carried over to the next week.
The short-term bottom has been established around $26.5 and the
resistance point has been shifted to $28. Hence, there is a high
probability that the stock will challenge $28 as early as the coming
Tuesday or Wednesday if it could break $27.25 Monday, which should
have little barrier.
I expect the big guys will step in before the end of March, therefore,
there are buying opportunities on this stock next Monday and Tuesday.
After that, I wouldn't imagine how much more you have to pay to get
the same amount of the stock. It is anticipated that the price will
run up to near $30 before 4/15. Of course, there still exists volatility anyday next week especially on next Tuesday due to Fed's
meeting on interest rate issue.
The money continues to pull into the stock market from everywhere. It
accounts for $6b just last week alone. The sources to inject into
this stock are plentiful.
I think the price will start to accelerate next week, then stay within
a narrow range after that until near 4/15. I observe that phenomenon
based on its past patterns.
Have a good weekend.
Phil |
