Sunday January 15, 2017.
Hello and welcome to this free comment on Apple, it’s Sunday January 15.
The prognosis here is bullish.
The share price is above a rising 200 day moving average, so it is a big picture bull market, and the important 61.8 percent retracement mark has been surpassed.
The trailing PE is 14.3. The forward looking price to earnings multiple is 11.9.
Neither number provides any real insight into the likely direction of the next big move.
But again, the price signal here is bullish, especially while above $117.
While above $117, the outlook for Apple is very bullish indeed.
Until next time, for Key Levels, I’m Paul Nojin.
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