Power Plays New Ideas: AAPL & SNAP

October 4, 2022

By Scott Redler

The QQQ's appear to be stabilizing so there is a good chance the rally can resume near-term. Some key names are reclaiming yesterday's lows, so we could get some fast relief.

So I'm adding two new Power Plays ideas.

Idea #1: AAPL

Name: Apple

Ticker: AAPL

Price: $146

Needs to Hold: $141 to $142

Price Objective 1: $151 to $152

Price Objective 2: N/A

Apple (AAPL) has shown good relative strength and it's done a good job of shaking off bad news.

So it has a strong chance of leading us higher, especially as fears of iPhone weakness start to wear off.

Idea #2: SNAP

Name: Snap

Ticker: SNAP

Price: $10.90

Needs to Hold: $10 to $10.20

Price Objective 1: $15 to $15.50

Social names could be coming back in play with Elon Musk moving forward with the Twitter (TWTR) deal. SNAP could have a fast bounce above $15 pre-earnings, so this looks like a good entry.

Stay tuned for more updates.


Scott Redler Positions Disclosure