Asset Watch
Tuesday, January 9, 2024
Yet, with a third iteration unfolding, the white arrows highlight how, unless major events occur, the 50-week MA (near $176) is often a reliable support level. To play it, you could average into the stock and invest 1/3 of your position maximum. That way, you profit if the stock bounces immediately but still have capital left over to obtain a lower average price if Apple keeps falling.
Will the optimists benefit from another overreaction, or is Apple headed materially lower?