Apple has been on a helluva run lately.
My bull thesis here is that while the world ran into a chip shortage, apple became one of the most cutting edge producers of microprocessors. Of course, they’re going to keep most of their supply to feed into their gadgets, but this will certainly help once the company gets deeper into self-driving cars. And it seems that they’ve come way too far to give up on autos at this point.
But the stock is rich, and price ran into the 144% extension of the recent pullback yesterday, sold off today. Almost put in a bearish engulf but buyers came in at the end of the day to keep the formation from appearing. Not quite a sell but not a buy at this point.