“Apple has fallen prey to the trade war-triggered market sell-off, tumbling 11% in just a week,” Keris Lahiff reports for CNBC.
“But a propitious development in its charts could signal a massive rally, says Matt Maley, equity strategist at Miller Tabak,” Lahiff reports. “‘It’s seeing a golden cross. That’s when a rising 50-day moving average breaks above a rising 200-day moving average, and I’m usually not a big fan of that indicator but it’s been a very compelling one for Apple,’ Maley said Monday on CNBC’s Trading Nation.”
“The last three times the stock experienced a golden cross – in 2009, 2013 and 2016 – it rallied around 540%, 110%, and 130%, respectively, through to its peak years after,” Lahiff reports. “‘So if this stock can turn back up, that indicator would tell you it just might be see a good run,’ said Maley.”
Read more in the full article here.
MacDailyNews Take: Who here among us Apple shareholders wouldn’t enjoy a rally of 540%, or 130%, or even 110%?
One might think that once a U.S.-China trade deal is brokered and inked, a major drag on AAPL – indeed, a club that is wielded by naysayers and shorts whenever they wish to beat down the share price – will have have been vaporized.
Analyst: Apple investors ‘overreacting’ to U.S.-China trade war and Supreme Court App Store ruling – May 14, 2019
Apple, Deere & Co, retail in focus as U.S. releases fresh tariff list – May 14, 2019
Gene Munster: Apple likely to be spared from China tariffs – May 10, 2019
Apple shares drop 7% this week on fears China trade turmoil threatens iPhone sales – May 10, 2019
Apple’s iOS 13 rumored to drop support for iPhone 6, iPhone SE and iPhone 5s – May 10, 2019
Apple not yet hurt by China tariffs, likely to simply absorb the added cost – May 10, 2019
Apple temporarily escapes new tariffs as U.S.-China trade war escalates – May 10, 2019
Dow futures fall after President Trump tweets ‘absolutely no need to rush’ on China trade deal – May 10, 2019
China overplayed its hand with U.S. President Trump on trade, and it could cost them dearly – May 9, 2019
Apple CEO Tim Cook optimistic about U.S.-China trade talks – February 12, 2019
President Trump says U.S. doing well in trade negotiations with China – January 23, 2019
China’s 2018 growth slows to 28-year low, more stimulus seen – January 22, 2019
Apple CEO Tim Cook: I’m very optimistic about U.S.-China trade talks – January 8, 2019
Advisor to President Trump: Apple’s sales should pick up when U.S.-China strike trade deal – January 3, 2019
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