TMCnet News
Look for Shares of Apple to Potentially Rebound after Yesterday's 2.42% Sell OffFeb 20, 2013 (SmarTrend(R) News Watch via COMTEX) -- Apple (NASDAQ:AAPL) traded in a range yesterday that spanned from a low of $448.80 to a high of $457.69. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $453.85 on volume of 16.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision. In the past 52 weeks, Apple share prices have been bracketed by a low of $435.00 and a high of $705.07 and are now at $449.07, 3% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.8%. SmarTrend recommended that its subscribers protect gains by selling shares of Apple on January 14th, 2013 by issuing a Downtrend alert when the shares were trading at $503.01. Since that call, shares of Apple have fallen 8.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |