Google is hanging around near the top of its range, but today wasn't the best for the stock. It finished lower than it started the day before, definitely a bear signal. Did the recent high mark a short term top? Is there more upside to this stock? I think the key is the red line in the sand, the 200 DMA. Watch 559.
Apple hasn't been this close to the 50 Day Moving Average in almost 2 months. Will the blue line hold as support or will a more serious sell-off in this stock begin? I don't have the answer to that question, but for those that have been waiting to buy this stock, if the 50 day does NOT hold, watch for a good entry point near 118. If however, the blue line does hold, I'd advise patience. Don't rush in over 125. Apple currently yields 1.5% dividend. That's not must buy territory.
Short Term - Buy
Long Term - Buy
Investors bid Apple up on the last day of trading before it joins the Dow Jones Industrial Average. What does this mean if you own the stock? Likely not much as the Dow isn't the index it once was in importance. The S&P 500 is now the index to watch.
The recent run has reverted back to selling off and oil has hit fresh six year lows - breaking through 44 dollars a barrel in early trading on Wall Street. Will the break of 44 hold into the close today or will oil stage a comeback? I keep saying oil won't hold 40. So far oil has held. I will keep watching.
Oil couldn't sustain the small amount of momentum it had coming off the recent bottom and it seems we will test to see if those lows will hold. I said the first time around I didn't think 44 would hold. It did. Can it hold again or will the rout in oil resume once more?
Profit takers continue to hit Apple since its recent peak of 132. The stock now sits on the 38% retracement of the recent breakout move from 105, powered by a monster earnings report. So, what now?
I think the stock will test 120 and the 50 DMA (the thin blue line) - the 118 range is a good spot to get long the stock, though with the following caveat - this stock will be volatile going forward.
Rating = Slight Buy at current Pricing
Apple has fallen from the recent highs, but just a few percent. Nothing more than profit takers booking a win. What can we expect going forward and what to do now. First, I think Apple needs to consolidate the huge move up and find a new range. It's likely that 120 will be the bottom of the new range and 135 (ish) will form the short term top. How long #Apple will be in this range is open to debate.
Short term rating, HOLD
Long term rating BUY
The price of oil can't seem to stay above 50 dollars a barrel and it's ETF version is stuck firmly below the 50 DMA. And considering you can't even SEE the 200 DMA on this screenshot, that's a pretty damning piece of bearish evidence.
Oil isn't a buy until it holds above that blue line.
It's still a long way from the 50 DMA (and by long way I mean one big down day) - so watch that level for re-entry if you missed the recent run. If you are going to buy the ETF of the Dow Jones Industrials, Wait for a pull back in my opinion. Rating
Not many times you get a 7% return on a stock this big in a week, so enjoy it. By enjoy it, I mean, consider taking profits if you bought at 500. Do I think this stock can go higher? Yes, it can. But, you'll never do much wrong if you take profits when you gain 14 percent in 2 months. Sometimes ringing the cash register is best move. However, my overall take on Google is
Short Term HOLD
Long Term BUY