Apple May Be Ripe For Picking

A September posting recommended selling AppleAAPL
short. This switch from bear to bull can be partially explained by this monthly histogram of expected return of share price from 1980. The stock has risen in September only 35% of the time but that number doubles in October, the strongest month of the year for this stock. I add that the average low in any year for the technology sector has been October 9th.

Monthly Histogram

The second development is the bottom in the monthly cycle.

Apple Monthly Cycle

Lastly, relative strength (green line) has been strong as depicted in the daily graph below. In fact, this is the all time high in relative strength over the last 41 years! In 2022, the stock has maintained its relative superiority despite the decline in the technology sector. The shares are due to rise to $150-$160 by November.