Apple May Be Ripening
11/17/2008 12:03 pm EST
The maker of personal computers, portable digital music players, mobile communication devices, and supporting materials ran from $40 in early 2005 to more than $200 before succumbing to the bear market.
The stock has plunged to around $90. Now, however, buy signals from our internal indicator at support levels formerly seen in early 2007 tell us that it may be time for the more adventuresome investors to take a risk with a trading target of $110.Longer-term investors who see promise in Apple's products may want to buy a limited number of shares at this price. But be assured that if AAPL closes under its low at $85, it will most likely head south from there.
By Sam Collins of OptionsZone.com