Apple stock maintains lead with smartwatches or without them
08 May 2020
Apple Inc. stock has been rallying very strongly for the last couple of months after a strong bearish correcting that started last February 2020, right before the coronavirus COVID-19 thing started to fret the investors.
As explained in a previous Apple stock forecast posted previously in my blog, a strong demand imbalance on the monthly timeframe around $217 per share took control as expected, and Apple has been rallying ever since it pulled back to that strong impulse. There have been long opportunities on the way up since last March 2020 when that imbalance took control.
Apple stock strong impulse
You can use other stock trading strategies to trade Apple stock; it doesn’t really matter which strategy you use as long as you are aware of the bigger timeframe trend and context. Going short against a strong demand imbalance on Apple is not a good idea. If you were bearish on the way down from February to March, you have had some winners, but once demand took control, bearish stock trading strategies were low probability.
A bit about Apple’s sales and fundamentals.
Apple Inc. again commanded a majority share of the smartwatch market in the first quarter when the Covid-19 outbreak encouraged health tracking and drove a 20% rise in shipments.
The Apple Watch is seen as one of the key growth drivers for the U.S. company. According to GF Securities analyst Jeff Pu, Compal Electronics Inc. and Quanta Computer Inc. are the assembly partners for the wearable device.
Apple forecast and supply and demand analysis video
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