Tradebots took profit from Apple, Inc.

We published a blog regarding Apple, Inc. (AAPL: NASDAQ) on 2021/06/09 titled “Tradebots are bullish on “Cash”” We bought AAPL at $124.99 on 2021/06/07.

In the blog we mentioned,

Tradebots has issued a buy alert on Apple, Inc. (AAPL:NASDAQ) on Monday June 7th, 2021. Apple’s stock price is currently trading at around the same level as of August 2020. The stock has been consolidating around this level for about 8 months and underperforming the market at the same time. From our analysis, the consolidation phase is ending soon for Apple and we believe it is going to break out form this trading range, regaining the market leadership once again and outperforming the market in the near future.

In the title, we mentioned that Tradebots are bullish on “cash”, because we noticed that some financial institution are holding Apple stock as “cash equivalent” and selling it whenever they need to raise cash to buy some other stocks. However, we believe this “cash” is going to outperform the market soon. Therefore, we are upgrading Apple stock from “cash” rating to “diamond” rating. In order to take advantage of this forthcoming outperformance, investors would require to have diamond hand to hold and prosper. We have a 12-month target price of $180 for Apple.

Since, Apple has reached our target price, we have took profit and sold it at $181.5 for a 45.21 % gain for a 7 months hold.

AAPL profit taking
AAPL profit taking

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