Premarket Trading Ideas FDA Calendar And Stockchart analysis

AAPLE Inc (Nasdaq: AAPL) has a market cap of 582 B and considered to be most valuable company in USA. Apple Inc claims to have created 514,000 US jobs on Aaple site out of which 47,000 works for Aaple itself and rest of the 467,000 jobs helps other US companies to make, sell, or transport components and finished products and thats why there is no doubt, its most valuable company for USA as it provides other companies to be in the business and keep them job. Unfortunately, the tag on every Aaple product says, "Made in China".

Coming back to Aaple chart, its one the most loved stock by investor because its up 17,177% since its IPO was issued.

Tracking back the performance of aaple

2002 - the stock price for AAPL was less then $10.

2003 - stock price was in the range of $7- $12.

2004- was the turning point for AAPL and stock price jumped to $32.

2005 - 2007 - AAPL rallied to $199.

2008 - AAPL plunged to $119 in first half of 2008 and then rallied back to $185 and then dropped to $82.

2009 - 2012 AAPL rallied continued from $82 to $644 which is 584%.

Based on the charts, AAPL will find support at $622, $617, $608, $603, $589, $586, $513, $411, $490, and $292.

Breaking 603, 513 and 292 level will lead to bigger sell off of 40-50 point easily.

Current price for AAPL is $620.50 So from 1000 points its away 380 point. It took 2.5 year for AAPL to rally 380 point. So if the growth in AAPL continues inspite of Global slowdown, it can reach $1000 in late 2014.

But, considering the performance of each of the momentum stock like CMG, PCLN, NFLX, GMCRSo, It doesn't look like AAPL will ever be able to break $1000 mark but there is higher chances of aapl breaking its momentum and drop below $500. Above $603, AAPL is safe to hold but below that level is a sell with a price target of $411. Short term, AAPL is likely to test $603 level.