The last time Apple, Inc. ($AAPL) had a sales slow down was in 2013. Well, if Apple’s earnings report is any indication, it may be 2013 all over again. And that could spur a deeper decline in Apple’s stock price and bring lower AAPL price targets into view.
Make no mistake, Apple is incredibly profitable and a great company. But when you are an investor, it’s the price action that matters.
And Apple has been signaling that something is amiss for a while – see my post on Apple’s bearish head and shoulders price pattern from mid-November.
In drawing a comparison to 2013, I’m solely looking at the price patterning. In 2013 Apple’s stock price fell down to the Yearly S1 pivot point at $392 before bottoming. You can see this in the Apple stock chart from 2013 below.
Apple Stock Chart ($AAPL)Â – Â 2013
In 2015, the Yearly R1 pivot points held AAPL in check and proved to be the high for the year. Â See chart below.
Apple Stock Chart ($AAPL)Â – Â 2015
If Apple’s stock price follows 2013, the 2016 Yearly S1 support pivot points are at @ $86 & $81. That is where I see longer term buying opportunities at. Both seem like respectable AAPL price targets from current levels. See chart below.
Apple Stock Chart ($AAPL) – Â 2016
I received a lot of hate mail in November when I warned investors that lower prices where coming. Fundamentals don’t show you where to buy & sell. But the price action and pivots do!
Learn more about my Pivotal Pivots methodology at my site PivotalPivots.  Thanks for reading.
Twitter: Â @Pivotal_Pivots
The author does not have a position in the mentioned securities at the time of publication. Â Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
