Recall during Apple’s steep climb that I noted the stock had not tested its rising 20 period monthly moving average (orange line, on monthly chart below) since mid-2009. The 20 period monthly is still clearly rising and the recent test held true thus far. Apple’s relative weakness is now obvious and has been discussed quite often. The stock has essentially gone nowhere for two months as its fierce decline has morphed into a sideways grind. Perhaps now it leaves everyone in the dust and makes its move higher?

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