AAPL continues its Ascension

Apr 7, 2008: 10:12 AM CST

Apple Inc (AAPL) continued its remarkable, almost vertical steady rise today, gaining almost 4% intraday before noon!

Since the middle of March, Apple has been traveling upwards at neck-breaking speeds, ascending in a near 70 degree angle.

The angular momentum of the stock is changing, meaning the rapid ascension may be unsustainable in the short term, but nevertheless one cannot deny the strength Apple has shown as of late.

This zoomed in graphic shows the three angular momentum changes as the stock has accelerated to recover 50% of its recent downswing:

Also, please note that volume is trending lower as Apple surges higher. This serves as a non-confirmation of higher prices and is a warning sign that things may not be as rosy (short-term) as the impressive price action might otherwise indicate.

Although you might be encouraged by the recent strength of Apple, note that the higher probability trade (or investment) at the moment now with these new technical developments would be to anticipate and wait for a retracement against the current price strength (perhaps down to the $140 level) before joining at these levels.

Check out the Market Club for further analysis, and to join a growing community of traders interacting and learning about the markets and trading opportunities.

Price generally can go down with minimal retracements, but it usually stair-steps up with retracements as price travels higher.

Don’t get too caught up in the hype and always seek to manage your risk in every position.

5 Comments

5 Responses to “AAPL continues its Ascension”

  1. Apple » AAPL continues its Ascension Says:

    […] Afraid to Trade.com Blog wrote an interesting post today on AAPL continues its AscensionHere’s a quick excerpt Apple Inc (AAPL) continued its remarkable, almost vertical steady rise today, gaining almost 4% intraday before noon! Since the middle of March, Apple has been traveling upwards at neck-breaking speeds, ascending in a near 70 degree angle. The angular momentum of the stock is changing, meaning the rapid ascension may be unsustainable in the short term, but nevertheless one cannot deny the strength Apple has shown as of late. This zoomed in graphic shows the three angular momentum changes a […]

  2. Stock Market » AAPL continues its Ascension Says:

    […] Afraid to Trade.com Blog wrote an interesting post today on AAPL continues its AscensionHere’s a quick excerpt Apple Inc (AAPL) continued its remarkable, almost vertical steady rise today, gaining almost 4% intraday before noon! Since the middle of March, Apple has been traveling upwards at neck-breaking speeds, ascending in a near 70 degree angle. The angular momentum of the stock is changing, meaning the rapid ascension may be unsustainable in the short term, but nevertheless one cannot deny the strength Apple has shown as of late. This zoomed in graphic shows the three angular momentum changes a […]

  3. Craigslist Proxy Says:

    Some good points raised in that post. Will be back to check for more.

  4. ???? Says:

    Nice post there. Raised a few things I hadn't thought about before. Thx.

  5. Guest Says:

    Nice post there. Raised a few things I hadn't thought about before. Thx.