Apple (AAPL) ($660.59) is rated Buy according to ValuEngine with fair value at $609.12, which makes the stock 8.5% overvalued. The ValuEngine one-year price target is $700.63.
Apple is up 75.8% over the past 12 months and has a reasonable 12.8 P/E ratio. My quarterly value level is $602.77 with a weekly pivot at $675.99 and monthly risky level at $769.54.
The daily chart below shows declining momentum with the stock holding its 21-day simple moving average at $660.53 at Tuesday's close, and well above its 50-day and 200-day simple moving averages at $628.59 and $545.07.
Courtesy of Thomson ReutersGoogle Inc (GOOG) ($692.19) is rated Buy according to ValuEngine with fair value at $608.54, which makes the stock 13.8% overvalued. The ValuEngine one-year price target is $729.83. Google is up 31.9% over the past 12 months and a so-so 18.0 P/E ratio. My monthly value level is $600.44 with a quarterly pivot at $705.10 and weekly risky level at $752.87. The daily chart below shows overbought momentum with the stock well above its 21-day, 50-day and 200-day simple moving averages at $680.26, $638.30 and $616.69.
Courtesy of Thomson Reuters
How to Use my Value Levels, Pivots and Risky LevelsValue Level: The price at which to enter a GTC Limit Order to buy on weakness to initiate a new long, add to an existing long, or to begin to cover a short position. The letters mean; W-Weekly, M-Monthly, Q-Quarterly, S-Semiannual and A- Annual.
Pivot: A level between a value level and risky level that should be a magnet during the time frame noted. Risky Level: The price at which to enter a GTC Limit Order to sell on strength to book a profit on long positions, or to build short positions. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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