Get a Quick Bite in Apple
by Sam Collins 03/11/09
Apple Inc. (AAPL) -- The popular international maker of personal computers, portable digital music players, and mobile communication devices topped off last May at more than $190 a share and tumbled from $160 in early September to $82 in early October.
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A rally from the October low to around $110 and a subsequent decline to $79 set up the current channel-down pattern.
The Dec. 20 low at $78.20 marks the support of the formation. Now with stocks in a bear-market rally and the stochastic giving a recent buy signal, AAPL might provide a trade with a target of $98.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.
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