` Gary Investing Blog: Apple Had a Big Drop Today!


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Thursday, April 18, 2013

Apple Had a Big Drop Today!

Apple, Inc. (NASDAQ: AAPL) dropped 5.50% today. Totally disaster. Once again, I have been telling over and over again in my Blog that AAPL is destined to drop to $400.00. Now, $400.00 might or might not serve as a strong resistance. At least $500.00 did not hold AAPL for too long, but don't blindly expect it will be the same this time. I suggest for those who short AAPL covering their stocks and observe what's going to happen now. Shall AAPL bounce back to MA(50), I will initiate short position again. 

Amazon.com, Inc (NASDAQ: AMZN) has a tough time to make a new high even with a MACD Crossover. I target $255.00

Bank of America Corp (NYSE: BAC) had a big drop today and a bearish MACD crossover. Short term target at $11.00. Consider having more short positions in your portfolio than long ones.

Kellogg Co. (NYSE: K) had a very steady uptrend since last year. Even though with the big move this week, K seems still holding up very well. A break above $64.91 would bring another round of pop.

Altria Group Inc, (NYSE: MO) is forming a flag with now being traded just above middle line of Bollinger Band and $35.00. A break above $35.50 signals for a trend continuation. If it breaks below $34.82, the resistance is MA(50), $34.25.

Take a look at how $TSO follows lower Bband nicely. Similar to the points I have made in my previous post, TSO has fully formed a double top pattern, so now, looks more similar to a Head and shoulder. I target $45.25.

1 comment:

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