After buying Apple (AAPL) at $521 in February I became concerned about the pace of its growth. I used a stop loss to protect my profits and in mid April I was stopped out on at $600 (a 15% profit). The stock then fell to a low of $530. I had hoped that the stock would fall into its long-term channel at around $500, but it is now back up to $580. I think the stock has bottomed and there is some upside.
I wish I had timed the bottom better but timing is very hard and, hey, I still made a nice profit on the last trade. It’s time to get back in.
- BUY Apple @ $573
Writing today, 4th July, this looks like a good trade. Apple is at $599.41 (up 4.6%).