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Technology

Signs of strong institutional buying in Apple

Photo of Steven M. Peters
By Steven M. Peters Updated Published
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From Apple Stock Is Alerting Bullish Trading Activity by Lucas Downey, posted Wednesday on Investopedia:

 

A gain of approximately 26.27% in 2018 for shares of Apple Inc. likely couldn’t have happened without strong institutional buying accompanying the move. Apple is executing at an extremely high level for a company of this size. It released earnings on July 31 with strong numbers that the Street liked. The company is firing on all cylinders and even has the backing of arguably the greatest investor of our lifetime, Warren Buffett…

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In the view of Macro Analytics for Professionals (MAP), the strongest indicator of positive price momentum is obtained by measuring potential institutional accumulation. In 2018, Apple has logged 11 of these rare signals. We like to see bullish activity in the shares alongside solid forward fundamentals. This indicates that, over time, demand for the stock should increase.

In the chart below, Apple stock broke out to new 52-week highs on big volumes. Shares should continue the upward trajectory:

strong institutional buying

Click to enlarge.

My take: How can you tell if what we’re seeing in this chart is institutional buying or Apple buying?

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