May 27th 2017 AAPL Trade Update
Apple (NASDAQ:AAPL) Apple has $256.8 billion in cash. Where’s is AAPL keeping all it’s cash ? At end of 2016, 94% of AAPL’s cash is overseas. To bring back this amount of cash back to the U.S would mean paying hefty taxes. Or AAPL could buyout content producing platforms like Netflix or Time Warner.
AAPL extended bull run from Jan 2017 is slightly overcooked.
In the Month of June,
AAPL is on our watchlist with a pending green wave 4 pullback into the 38.2% retracement at 134 level. Let’s respect the longer term bullish trend for AAPL and wait for a pullback into the 135-137 level before establishing long position on AAPL.
Course of action: Establish Long position if AAPL drops to wave 4 support at 134-137 level
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