I see Apple Inc as built a triple top on a point
& figure chart. I love P&F charts because most of the squiggly line
guys never
use them.
Apple Inc was added to the DJII March 2015 suggesting
that Apple is in transition from a growth stock to a value stock. In other
words – the great 2001 – 2015 growth period may be over. Some past DJII growth
to value stocks - Cisco Systems added in June 2009. Bank of America and Chevron
added in February 2008, Intel and Microsoft were added in November 1999
Honeywell was dropped from the Dow in February 2008
and has doubled in price – now a true growth winner – Alcoa also doubled in price
after being dropped in September 2013
Our chart – monthly of Apple Inc displays the
progressively shorter growth periods – this may cause some momentum loss in the
broader technology sector
.
Posts
2 comments:
From my limited knowledge of P&F charting it looks to just repeat with candlesticks and line charts do. Just looks different. Technical analysts are constantly thinking they have found the holy grail in charting but they all end up failing.
Hello
Apple became a DOW component March 19, 2015 at $127
Today July 24, 2015 Apple is $125 - I would say Apple is a one-trick pony
and is not the Holy Grail
Bill C
Post a Comment