I stumbled on an article that I was quoted in on February 21, 2020. The writer forgot to alert me that he used my content. I have copied my quotes and a link to the full article below.
I also referenced Apple’s stock being overextended in our February 13, 2020 Update: Stock Market Looking Frothy.
Is Apple Stock Due for a Correction?
AAPL may seem unsinkable, but at least one analyst thinks it’s due for a correction
“In an e-mail to InvestorPlace, Craig M. Thompson, ChFC and President of Asset Solutions had this to say:
From a technical perspective, APPL stock is in a strong uptrend. However, it is because the advance has been so strong that the stock looks to not posses a good risk/reward trade-off. The stock is overbought and at a level that has historically signaled an imminent correction.”
“What does Mr. Thompson recommend?
If you are a current investor, it would be advisable to set a logical stop to lock in profits should the stock fall. If considering investing in AAPL as a new position, you may be better served by either waiting for the stock to correct or, better yet, look for other stocks that are not overextended.”
To read the entire article click the link below.
Craig Thompson, ChFC
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