Valentine’s Day has just passed but there is no love for Apple. I think it would have a hard time finding a date from anyone other than a bear! In fact, the love has turned to hate since the end of October when the stock started on its remarkable slide to the low 400’s. The stock has been a miserable performer in the New Year as it continues to find its way.
The issues to be addressed for the ‘big Apple’ are numerous and continue to be talked about in the media daily. It just would not be a regular day without someone talking about Apple, their cash, their products and potential takeovers. It is the most talked about name these days because so many are into the products and the stock.
But what about the chart? See below, it has certainly seen better days. The technicals explain what the big money is doing in a particular stock. Regardless of the fundamentals, when the money is flowing out there is no way you can possibly time an end to it. The best thing is to step out of the way until it stops.
When the love returns to Apple, I have no doubt more smiles will be seen. For now, it’s just an avoid.
[Editor’s note: What are you doing with your Apple position? Let us know below.]
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