5 Reasons To Buy Apple Stock (APPL) 2021

apple stock chart 1-5-2021

Last February and then throughout the year I told readers to watch Apple Stock (APPL) when it was $72 (stock split price)!.  In December we updated our article when APPL was breaking out to $120s and we saw it going to $130s.  Many readers closed out their trades making over 50%!  I am updating this article for 2021 for those that didn’t close their trade or considering buying Apple stock.

APPL stock is now bouncing around $130 after jumping up to $137.  I believe it will bounce between these two points for a while until there is positive news which will cause it to touch the new R1 of $140.

The funny thing is I don’t use Apple products but appreciate the cult following. Maybe it is a generation thing, but spending almost a month’s worth of rent on buying a new phone sounds crazy.  However, it is the crazy brand loyalty the keeps me buying the stock.

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After the death of Steve Jobs, I honestly wondered if Apple would continue to keep its following, but it has. My in-laws are in their late seventies and use their iPhones for many more things than I do. In fact, it would probably be easier to get taking a salmon from a bear than changing phones with them.

Also the Covid-19 pandemic has only increased the use of laptops and cell phones. Facetime and Zoom are now the norms, even for older generations.

As a result, the technology sector has performed very well. A few weeks ago we saw Apple stock take a hit and recommended to our readers to take a look at it.  For the record, I am not a personal fan of Apple and don’t use an iPhone or Mac. That is why we are telling readers to consider buying Apple Stock (APPL).

ABS REPORT

Here are 5 reasons to look at buying Apple Stock (APPL):

  1. It is one of the largest tech sector stocks.
  2. It is currently set to break R1 at $140.
  3. It has released new products before the holidays to increase sales.
  4. It is a cult product and likely to see sales increase as Covid.
  5. Chart technicals are signally a “BUY” (all signals posted below)

Apple Stock Pivots

Watch for APPL stock to break $140. We could see a quick climb to $150s shortly after.

PivotClassicFibonacciCamarillaWoodieDM
S392.94111.72127.53105.35
S2111.72118.89129.25112.68
S1122.2123.32130.97124.13126.35
P130.5130.5130.5131.46132.57
R1140.98137.67134.41142.91145.13
R2149.28142.1136.13150.24
R3168.05149.28137.85161.69

Apple Stock 1 Day Moving Averages

Most APPL moving averages are generally positive. Remember moving averages are a bit lagging for indicators, but great for showing trends/patterns. The short term moving averages are bearish because of the recent dip, however, the overall trend is very bullish.

NameValueAction
Exponential Moving Average (5)131.71Sell
Simple Moving Average (5)132.4Sell
Exponential Moving Average (10)131.2Buy
Simple Moving Average (10)132.17Sell
Exponential Moving Average (20)128.81Buy
Simple Moving Average (20)128.51Buy
Exponential Moving Average (30)126.73Buy
Simple Moving Average (30)125.3Buy
Exponential Moving Average (50)123.65Buy
Simple Moving Average (50)121.59Buy
Exponential Moving Average (100)117.11Buy
Simple Moving Average (100)119.51Buy
Exponential Moving Average (200)105.1Buy
Simple Moving Average (200)101.28Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)127.5Neutral
Volume Weighted Moving Average (20)128.67Buy
Hull Moving Average (9)131.13Buy

 

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