Adding AAPL + Power Plays Weekly Roundup

October 28, 2022

By Scott Redler

Today I'm going to combine this Apple (AAPL) initiation with the weekly roundup to save you some reading time.

Name: Apple

Ticker: AAPL

Price: $151.75

Needs to Hold: $143 to $144

Price Objective 1: $160 to $161

Price Objective 2: N/A

The market has firmed up and I see a chance for the SPX to move back to the 4,000 area.

So I'm making Apple (AAPL) our latest Power Play.

Its earnings report last night wasn't perfect. But it was certainly better than most other F.A.N.G.-type tech names like META, GOOGL, AMZN, etc.

Now, I'm not 100% sure the market is out of the woods, but the indices have absorbed a lot of bad news this week, and the buyers seem to be taking clues from Apple for the time being.

And if TLT/UUP cooperate, we could be on the verge of a powerful bear market rally.

So I feel good about adding AAPL exposure here.

As long as we hold this morning's lows, we could see a nice move into early next week.

I hope you have a great weekend, because with all the chaos this week, we could all use a little fun with family and friends.

Stay tuned for more updates next week.

With the market appearing to be making progress towards better action, hopefully, we can find more Power Plays to put on.

Take care!


Stay tuned for more updates.


Scott Redler Positions Disclosure