Is It Time To Buy Apple Stock Again?

A very popular stock, Apple, has once again appeared on a Fumbled Returns Watch List. Is it time to buy Apple again?

Let us take a look at the chart and some key points.

Apple has two key chart patterns happening now:

1. Bouncing off of a previous top level resistance point (which then became a support level ). By they way, that previous top resistance occurred January 2012 – Seventeen Months Ago!
2. A rising wedge pattern, which could signal a reversal of the downward price channel.

 

As a company, Apple continues to face stiff competition from Google and Samsung. They have not released any new products since last October and face yet another lawsuit.

But, CEO Tim Cook promises new game changing products in the near future. Perhaps as early as this fall. However, we all know about Apple’s passion for secrecy. Apple also has a dividend program which will only serve to help investors in the long run.

If Mr. Cook and Apple can deliver on improving on their brand by releasing “game changing” products, Apple’s stock stands a good chance of remaining above it’s current support level.

If you are worried about Apple’s ability to deliver and increase it’s stock price and value, don’t worry, there are some other good stocks on the Fumbled Returns June Watch List, with similar favorable patterns forming.

Namely:

INTC

Which has formed one of the most favorable chart patterns for a breakout – Cup and Handle.

 

Disclosure:  I am not currently invested in any stocks mentioned in this post.

All charts courtesy of:

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