Oppenheimer technician Ari Wald is a screaming bull on AAPL.
Wald says Apple stock is breaking out higher and more all-time record highs are
on the way. Warren Buffett continues buying Apple stock now a major holder and cheerleader. Many market participants blindly follow Buffet explaining recent strength. However, looking at the AAPL monthly chart, the RSI, MACD,
stochastics and money flow are all negatively diverging as price prints a new
record high in May. The overbot conditions and rising wedge are also bearish. This indicates that actually a multi-year top is in play
for mighty Apple.
If you enjoyed a long upside run in Apple, you would be smarter to get out of Dodge. Price may tag the upper standard deviation band in this 188-196 area but as long as that MACD line does not exceed the January-February high, Apple is toast. You are witnessing the price peak in Apple and these highs may not be seen for many months and years to come. If the MACD line sneaks out a new high, the multi-year top for Apple will be delayed a couple months. Look elsewhere for opportunities. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added 6/4/18: AAPL gaps higher above the upper standard deviation band to 193.42 a new all-time record high. Investors and traders are giddy over the new record highs in tech stocks and the Nasdaq indexes. CNBC commentator Jim Cramer cheerleads apple guaranteeing more upside from here. Cramer ridicules all naysayers of Apple stock. Cramer is all-in telling folks to buy with both hands. Cramer proclaims, "Apple is the greatest story ever told." The MACD line on the AAPL monthly chart is sneaking out a higher high which likely extends the long-term top to sometime between now and say, August. Take the money on this upside euphoria if you are long, or, you can listen to Wald, Buffett and Cramer instead and place your life savings into Apple stock. What do you want to do?
Note Added 6/4/18: AAPL gaps higher above the upper standard deviation band to 193.42 a new all-time record high. Investors and traders are giddy over the new record highs in tech stocks and the Nasdaq indexes. CNBC commentator Jim Cramer cheerleads apple guaranteeing more upside from here. Cramer ridicules all naysayers of Apple stock. Cramer is all-in telling folks to buy with both hands. Cramer proclaims, "Apple is the greatest story ever told." The MACD line on the AAPL monthly chart is sneaking out a higher high which likely extends the long-term top to sometime between now and say, August. Take the money on this upside euphoria if you are long, or, you can listen to Wald, Buffett and Cramer instead and place your life savings into Apple stock. What do you want to do?
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