$AAPL updated chart – Today the Apple core ( position ) was a bit rotten and my swing position had a little worm in it
Rotten Apple core position Worm in my Apple swing position
I get these questions a lot :
Where is the best place to buy Apple Stock? AAPL
What are the key support and resistance levels for Apple Stock? AAPL
How to make money on Apple Stock?
Today Apple got downgraded to Market Perform so that affected the stock negatively and it dropped but i added into the key support levels a few times both in my core and swing positions. We also had all the uncertainty with the nuclear plants in Japan, weak economic reports and that dropped both the futures and markets today.
If we fall further on $AAPL from here it could go down to the next major support which is around $300 you can see it on the chart as the green line ( which is the 200 day simple moving average)
Supplies for AAPL could be affected due to the Japan disaster & they also announced today that they would delay the Japan Ipad2 launch .
Japan is a small portion of AAPL's business but its understandable why we saw that downgrade if it will affect their sales into the next Quarter.
One big plus is the successful launch of the Ipad 2 . So if they can provide supply for the people that want it or that missed out on it while standing in line then Apple should recover back up. The only other big uncertainty is Steve Jobs health and if something bad happened there ( knock on wood it doesn't ) but would affect apple stock negatively to the downside.
How to best play Apple Stock and make money from it? I've done very well playing Apple and in this case just using a simple technique on past AAPL buys/sells –I've been buying key support levels (to buy) and selling key resistance levels.
Hope this little blog and notes helps you in your road to : making some money on Apple so you can buy a new IPad 2 or a new iPhone 4 or iPhone 5 when it comes out – by the way when does the iPhone 5 come out ?( i think this summer)
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News affecting Apple stock today