(By Rich Bieglmeier)
The information in this article is iStock Analyst take on different stocks. It is not intended to be advice, recommendations or endorsements of any investment or investment vehicles. Investing involves risk and you should consult with a financial professional before investing any money.
I'd be glad to see what your system says about the following stocks:
AAPL, GLD, SPY
Mauro from Italy
Grazie per la scrittura. We covered gold and silver yesterday and write about the indexes every day, just follow our stock market opening reports. As for Apple Inc. (AAPL), you don't need us to tell you that it is a core tech holding.
The tech giant has traded in a downward channel since peaking in early April. Yesterday's close pushed the tech titan's price against the upper limits of the channel and near a cap of resistance at $580. If APPL can close above $582sih, then a new uptrend can begin for shareholders. If not, then the stock should continue to bounce within channel guardrails and find initial support at $560, and then again at $525.
Should Euro problems persist and haunt equity markets throughout the summer, and Apple stays within it downward trend, $500 is a potential downside target.
IBM, PM, MO, KFT, VOD, WAB, ASMI, CETV, MDCI, FB
We'll keep'em short for you Bob so we can cover them in as few pages as possible.
International Business Machines Corporation (IBM) is right on support and at the lower level of its 20 day Bollinger Band using one standard deviation. The max deviation has been 3 in the last half year. In the short-term, that means $190 is about as low as you should see IBM go. Unless… there is a crisis, and there's a big one brewing with Spain.
Otherwise, if the market calms down a bit, a return trip to the middle of its range of $199 is what iStock would look for.
Philip Morris International, Inc. (PM) is a sin stock that tends to fare better when things get tough. This writer was recently in Germany, I know it's anecdotal, but it sure seemed as every young person had a cig hanging from their mouth. Thing must be real hard for German kids.
Anyway, since the first week of May, PM has been trading between $86 and $84.