How did I project that $390-$400 level on $AAPL ?

How did I project that $390-$400 level on $AAPL ?

 

I received a lot of of emails and questions last week about AAPL levels and how I estimated that $390-$400 level.

As you know I had tweeted out that I was worried about a drop under $419/$420 area and the possibility that we test $390-$400. Well Friday April 19th, 2013 AAPL closed at $390.53. below is a sneak peak at my section of the Stockguy22 Weekly Newsletter.

In  last week’s Stockguy22 Bull and Bear newsletter I reviewed Apple and thought would be good to share it in this blog post as well. Below is just the text portion. The newsletter is much prettier and in PDF version 14 pages of great Trading Ideas.

FROM STOCKGUY22 BULL and Bear Weekly Newsletter April 21st, 2013: Apple: AAPL
Next let’s look at AAPL since earnings this coming week. Earnings are Tuesday night April 23rd at 5pmEST.
First let me address the weekly chart on AAPL.
I had some emails and questions of how I arrived at $400-$390 level on AAPL as a target if $419/$420 broke down.
I reviewed it a bit at the Saturday Webinar but if you missed it here is the chart again.
What I did was look at the big run-up on a weekly chart from 2009 lows to the $700+ highs
and the 50% fibonacci level worked out to be approx $390+ ( see attached weekly Chart with notes)
Sometimes its good to step back on a larger time frame to get a better viewpoint.
Rob will be coming up with a few plays in this newsletter on AAPL and other stocks but this is what I wanted to do
 So now let’s look at potential AAPL options earnings plays into Tuesday April 23rd….
to read the rest of this AAPL article as well as other trade ideas and analysis by @stockdarts , @cheekytrade and @cerebralTrades you will need to be a Stockguy22 Bull and Bear Weekly newsletter subscriber.
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AAPL Weekly Chart below
Click chart below to make it larger and easier to read

Apple (Nasdaq:AAPL ) Weekly Chart and the $390-$400 levels

 

 

Posted in Apple Stock Chart - Nasdaq:AAPL, Blog, Charting & Analysis, Earnings Tagged with: , , , , , , , , , , , , , ,