November 22, 2018 | AAPL Still the Stock That Matters Most

AAPL remains the stock that matters most, so bulls shouldn’t get their hope too high that the carnage is over. I still have an outstanding target down at 170.78, implying the iPhone-maker’s shares will fall a further $6, or 3.4%, before bulls can turn the stock around. Seasonality and a dearth of sellers will weigh heavily in their favor when stocks resume trading on Friday, but any short squeeze that falls shy of 187.10, a benchmark equal to a minor external peak recorded Monday on the way down, should be regarded as mere noise.
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Rick Ackerman November 22nd, 2018
Posted In: Rick's Picks