- Category: Share Price Drivers
- Published on Monday, 04 February 2013 10:28
- Written by Will Peters
Apple shares are set to remain mired in a downtrend; this according to the latest technical analysis conducted on the AAPL stock by Trading Central.
Analysts say the downside is set to prevail as long as 473 remains as a ceiling.
Trading Central say they prefer short "positions below 473 with targets at 435 & 427 in extension."
However, a break above 473 could see further gains to upside 483 and 497.
Also in a bearish trend is Intel Corp, however some short term relief is possible. Trading Central say that while the technical configuration for INTC is largely negative a bounce is possible: "as long as 20.1 is not broken down, we favour an upmove with 23.19 and then 23.85 as next targets," says Trading Central.
However, below 20.1, the risk is for a drop towards 19.15 and 17.9.
FTSE 100 over-extended at current levels; declines possible
The UK's leading bourse is in the red this morning as some traders indicate they were now looking to lock in profits on equities; expectations exist that the rally may falter towards the end of this quarter before picking up later in the year.
"The market seems overextended at these levels. I'd prefer to take profits on the rally than buy on the dip," said EGR Broking managing director Steven Mayne.
Central Markets chief strategist Richard Perry said he would look to buy equities "on the dip" on days when the market fell, but only in small amounts.
"We're buying the corrections in small sizes but I wouldn't recommend chasing the market higher at these level in big sizes," he said.
Vodafone declined by 1.7 pct to take the most points off the FTSE 100 after Citi downgraded its recommendation on the stock to "neutral" from "buy".
Citi wrote in a research note that there was a risk that Vodafone may look to buy up businesses to address some shortcomings in its business offering, and added the company faced pressure on its revenues in Europe.
Elsewhere: Letting agents to come under heat over fees
As MPs carry out an inquiry into the private rented sector, councils say "extortionate fees" charged by some letting agents are making it harder for people to find a home.
The Local Government Association (LGA) will raise the issue, alongside concerns about "rogue" landlords, at a meeting today of the communities and local government select committee, which is carrying out an inquiry into the private rented sector.
It says letting fees in some areas are so high that young people on low incomes may find it more difficult to rent a property.
Tony Newman, from the LGA, will be giving evidence to the select committee.
He said: "With the housing market stagnant and a shortage of mortgages available to help first-time buyers, people are increasingly turning to the private rented sector to find a home
Tags: Apple Inc. (NASDAQ:AAPL) - Intel Corporation (NASDAQ:INTC)
Newer news items:
- ARM Holdings plc: Sell ARM as "The stock is expensive and we remain cautious" ref. LON:ARM - 05/02/2013 10:36
- Randgold Resources Limited: Buy RRS in anticipation of "sustainable attractive free cash generation" - 05/02/2013 10:06
- Lloyds Banking Group plc: LLOY stock to benefit from potential PBT uplift of 48 pct on deposit growth - 04/02/2013 14:52
- Honda Motor Co Ltd (ADR) (NYSE:HMC): Strong Buy recommendation maintained by Jyske, growth potential remains - 04/02/2013 12:20
- Lloyds Banking Group plc: Next leg of share price rally could be driven by EPS upgrades - 04/02/2013 11:47
Older news items:
- Brokers get behind BT Group plc: "BT has dangled the carrot of a new restructuring plan" ref LON.BT.A - 04/02/2013 09:44
- Lloyds Banking Group plc: Improving Loan-Deposit ration sees target price on LLOY lifted at Liberum - 04/02/2013 08:44
- Facebook Inc (NASDAQ:FB) faces "a fundamental downshift in the earnings trajectory" - 01/02/2013 13:44
- BT Group Plc: BT.A shares looking attractive with a 4.3x EV/EBITDA - 01/02/2013 12:35
- Facebook Inc (NASDAQ:FB) heading the same way as Altavista in Search and MySpace in Social? - 01/02/2013 11:19
Latest on The Economy News
- Heritage Oil PLC + XCITE ENERGY LIMITED: HOIL Updates on Tax Position, XEL Fails to Impress Investors Latest Update
- Thomas Cook Group plc: TCG Faces Conflicting Signals on the Charts
- Tech Alert on Gulf Keystone Petroleum Limited: For GKP "This bearish signal indicates that the stock price may fall"
- Imagination Technologies Group plc backed by Intel Corporation Backing: Why IMG is a Buy
- ARM Holdings plc vs Intel Corporation: Sell Rating on ARM Confirmed as INTC Launch XMM 7260
- HSBC Holdings plc: HSBA shows "little in the chart to suggest that a sudden push higher is imminent"
- Vodafone Group plc: VOD Outlook Adjusted to Factor in New Share Count