Apple has been rallying very strongly for the last couple of months after a strong bearish correcting that started last February 2020 right before the whole 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.
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 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. has 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. Compal Electronics Inc. and Quanta Computer Inc. are the assembly partners for the wearable device, according to GF Securities analyst Jeff Pu.
Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Set and Forget, its employees, or fellow members. Futures, options, and spot currency and stocks trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex and futures markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell spot Forex, cfd's, stocks or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.