5 Huge Stocks to Trade for Gains in March
This tech sector behemoth has been getting shellacked since shares topped back in September, and now is certainly not the time to be a buyer, even if the broad market looks more bullish than ever. Apple is forming the exact opposite setup from HBI and the broad market. The Cupertino, Calif.-based firm is currently trading lower within a downtrending channel. Short-sellers should look to bet against AAPL on a bounce off of resistance in the near-term.
I've said before that I'm a fan of Apple, just not a fan of its stock right now. In spite of the fundamental reasons to like AAPL, you can't fight the tape on this trade. Apple is clearly still being sold off en masse, and it's critical to wait for this stock to find meaningful support before jumping in. So far, shares are down more than 37% in the last six months, and they could be trading at an even bigger discount.That said, as this $400 billion firm's massive cash position continues to become a bigger chunk of its market capitalization, buyers are going to start coming back out again. It's just a matter of when.
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