AI
Thursday, March 04, 2004 4:57:17 PM
Kev, this looks like the breakout...
With the stock going Up more than 5% and 2x the average volume (which I consider a buy signal all its own), AAPL also manage to break to a new 52 week high.
It is interesting how right afer earnings you had every reason to believe that the breakout would happen. I lost faith, but rapidly got in, with the slightest sign of strength, only to have to wait for a few more weeks for this to happen.
In any case, I believe that $24.5 is now the support. Although the resistance is still strong, at this level, back to April 2002, I don't anticipate a near term pull back.
With the stock going Up more than 5% and 2x the average volume (which I consider a buy signal all its own), AAPL also manage to break to a new 52 week high.
It is interesting how right afer earnings you had every reason to believe that the breakout would happen. I lost faith, but rapidly got in, with the slightest sign of strength, only to have to wait for a few more weeks for this to happen.
In any case, I believe that $24.5 is now the support. Although the resistance is still strong, at this level, back to April 2002, I don't anticipate a near term pull back.
