AAPL Breaks $80 Discussion

Posted by Blain Reinkensmeyer
November 7, 2006 at 12:21 pm

Real time, this should be fun for everyone to participate in. as of 11:53 AM shares of Apple Computers (AAPL) are breaking to new intraday highs and are right at the $81 doorstep. Last tick real time is $80.95 (11:54:34). By the time I am done writing this post perhaps it will break $81.

Now, I am posting on Apple, AAPL, because I personally have a position (which was taken before earnings were posted) and because I have been watching it for you readers to make some money. Today something important happened for the stock and I want to point it out because if indeed the stock holds up and closes around $81 this technically could be a decent buypoint (other than waiting for a rebreak of $82). 1st Click and View the Chart Below:

After looking at the chart - which is in 30 minute intervals, displaying some 20+ days or so of activity - you can see that today’s gap up above $80 is technically a buypoint. Now, though this information may only be valuable to a daytrader that wants to make a quick point off AAPL, it can be a nice buypoint for those who want to hold, just place a stop at about $79.50, which gives you room and a very tight stop if infact the new trading range of $80-$82 does not hold.

These types of plays off technical resistance and support points can make you quick, easy, and most importantly safe money because they allows you to protect yourself against the downside while exploiting strong upside potential. The example I showed this AAPL is just one I have of many currently, and I feel that it is a simple interpretation to understand. Any questions feel free to leave a comment or email me it and I’d be happy to get back to you.

BTW, AAPL got as high as $80.98 and real time last tick is $80.86. I don’t want to speculate, but perhaps something is going on that mirrors yesterday’s $79.99 ironic price peak.

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