AAPL – Apple Shares Are Heading To $1000! What’s The Rush?

apple shares to $1000?

As we pointed out on March 27th, 2012, Apple (AAPL) could be making a run to the $1000 per share mark (see Livermore’s Zombie article on Bezinga)

However, as much as we like to toot our own horn, we should note that we also expected stronger support at the 560 level when it pulled back. There was an original support line at 530 on weak volume that was later confirmed by stronger volume, but that stop loss puts us at over 10% away with an entry above 700.

AAPL has not punished sellers who missed the first breakout above $600, and instead, appears to be giving them chances to get back in, gradually moving its support line higher. With no fear of missing the move, we would prefer to play this in short bursts. This means playing a solid move above 700-710 at 3-1, with a stop justified below 700, and profit taking above 735-745.

We suppose one could also say that there is support at $648ish, but a $50 stop loss means getting out at $800 or above to make any sense, and were not sold yet (of course the S&P making new all time highs might sell it for us)
Without freight train movement full steam a head, we feel making its more profitable to buy the pullback, rather than buy and hold, but to each their own.

Remember, we don’t give advice, we just offer trading tips to where there may be opportunity. Its up to you to develop and test your own trading strategies

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