Top Stock to Buy #2 – Apple (AAPL)
Apple’s (NASDAQ:AAPL) growth has been spectacular with earnings increases of over 80% in each of the past five years. The stock had a spectacular run this year, up 70% to a high of over $700 from $405 at the beginning of this year. But when it became overbought on Sept. 12, at $662, we began a series of sell recommendations ending on Nov. 7 with a suggestion to “cover shorts,” which would have been executed on the opening at $574.
Now, with four “buy” signals from our proprietary Collins-Bollinger Reversal (CBR) indicator, the stock appears to have formed a solid base at just above $500. Buy AAPL at $532 with a trading objective of $555. A stop-loss should be entered at $500. Long-term investors are encouraged to buy Apple at the market for a target of $700.