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?
One Response to Quick World About Apple
im beginning to think your thesis is correct. monthly has been so overbought, this is a nice reset. the daily is showing signs of a bottom in the low 500s. once that 20day on the daily turns upward i think it tests 600 again and will move higher assuming no earnings murder hole