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.
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).
Here are 5 reasons to look at buying Apple Stock (APPL):
- It is one of the largest tech sector stocks.
- It is currently set to break R1 at $140.
- It has released new products before the holidays to increase sales.
- It is a cult product and likely to see sales increase as Covid.
- 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.
Pivot | Classic | Fibonacci | Camarilla | Woodie | DM |
S3 | 92.94 | 111.72 | 127.53 | 105.35 | — |
S2 | 111.72 | 118.89 | 129.25 | 112.68 | — |
S1 | 122.2 | 123.32 | 130.97 | 124.13 | 126.35 |
P | 130.5 | 130.5 | 130.5 | 131.46 | 132.57 |
R1 | 140.98 | 137.67 | 134.41 | 142.91 | 145.13 |
R2 | 149.28 | 142.1 | 136.13 | 150.24 | — |
R3 | 168.05 | 149.28 | 137.85 | 161.69 | — |
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.
Name | Value | Action |
Exponential Moving Average (5) | 131.71 | Sell |
Simple Moving Average (5) | 132.4 | Sell |
Exponential Moving Average (10) | 131.2 | Buy |
Simple Moving Average (10) | 132.17 | Sell |
Exponential Moving Average (20) | 128.81 | Buy |
Simple Moving Average (20) | 128.51 | Buy |
Exponential Moving Average (30) | 126.73 | Buy |
Simple Moving Average (30) | 125.3 | Buy |
Exponential Moving Average (50) | 123.65 | Buy |
Simple Moving Average (50) | 121.59 | Buy |
Exponential Moving Average (100) | 117.11 | Buy |
Simple Moving Average (100) | 119.51 | Buy |
Exponential Moving Average (200) | 105.1 | Buy |
Simple Moving Average (200) | 101.28 | Buy |
Ichimoku Cloud Base Line (9, 26, 52, 26) | 127.5 | Neutral |
Volume Weighted Moving Average (20) | 128.67 | Buy |
Hull Moving Average (9) | 131.13 | Buy |