On Feb, 5, I wrote Bobbing for Apple, Amazon and Google Shares and presented my three-pronged analysis for these three benchmark investments and trading vehicles.
The first prong of an analysis is the fundamental screenings according to www.ValuEngine.com. The second is looking at daily, weekly and monthly chart patterns. The weekly chart profile is the most important. The third is my "buy and trade" parameters: Where to buy on weakness -- prices called value levels -- and where to sell on strength -- prices called risky levels.
Apple ($431.14) set a 52-week low at $419.00 on Monday, holding my annual value level at $421.05, which was presented in my Feb. 5 post as the next value level at which to buy on further weakness.Apple still has a buy rating, is 24.0% undervalued with a twelve-month forward P/E ratio of 8.95, which makes the stock a value play, not a momentum trade as it was until the stock traded above $700 on Sept. 21, when it reached the ValuEngine one-year price target at that time. Today's one-year price target is $463.54. The weekly chart profile remains extremely oversold with a 12x3x3 weekly slow stochastic reading at 11.30, well below the oversold threshold of 20.00. The 200-week simple moving average (SMA) is $363.75 with the five-week modified moving average (MMA) at $462.80. My weekly value level is $397.60 with annual pivot at $421.05 and semiannual pivot, now a risky level at $470.21. My annual risky level remains at $510.64. Chart Courtesy of Thomson / Reuters
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV