Apple has formed a massive double-top pattern. This bearish formation has been under construction for 15 months. Using an old-school measuring technique, the pattern suggests that Apple could fall as low as $90. Earlier this week, the stock hit an 18-month low.
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Tough times in the market = opportunity
Rob
He is no fool who gives what he cannot keep to gain what he cannot lose.
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Opportunity for short sellers? Just asking. Happy New Year.
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I have an inherent mistrust of “patterns”.
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Seen this roller coaster movie before and been in Apple since Fall 2005 (disclosure-it is a top 3 position). I have added on multiple dips over the years, as I did recently around 130. Tim Apple now can buy 44% more shares with that $90B towards buyback/year @125 than when it was 180, as he should! They have diminished share count over 35% over last decade! Cook really knows how to allocate and truly reward the long-term shareholder partner, a fact which pleases Buffett immensely. WEB is probably cheering the markets to pound the price lower. Patience has been rewarded over the years. I like the macro as well- when Fed pauses then eases, winds will turn and it will again be beloved for its sticky products, ecosystem, services, balance sheet and mgt. I’m not too concerned with the next quarter or two. So much fear out there.
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Maybe. But it begs the question, why would a short seller not short at 180, not short at 160, not short at 140, and then suddenly decide to short at ~120? The worries haven’t changed all that much through 2022 and into 2023.
Soldiers get shot first and general at last.
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