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.
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.
|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|