APPLE has once again proven to be the blue chip of all blue chip stocks.
In our eyes a blue chip stock is a company who knows how to ride a market rally and outperform it and on down side momentum, the company always has rabbit in its hat to pull out at the right moment.
iPhone 12 is holding new technology which will make all iPhone prior to it obsolete while at the time giving consumers the opportunity to purchase the phone with monthly instalments through its Apple Pay scheme.
The company is smart enough to know in hard times you are not looking to attract new shoppers but to upgrade existing ones.
POSITION IS LONG
CFD CONTRACT 1 LOT=100 SHARES
ENTRY RATE AT 121$
POSITION VOLUME 10 LOTS=1000 SHARES
POSITION MARKET VALUE =1000 SHARS *121$=121,000$
MARGIN REQUIREMENTS =6050$
FREE MARGIN TO STOP OUT AT 117$ =4000$
TAKE PROFIT 131$
SPREAD IS 10$
EST PROFIT =10,000$