The Nasdaq is up almost 1.5%, but Apple is hugging the flat line, unable to catch a bid since being rejected by the 50 DMA three trading sessions ago. Since the rejection at new highs at 134 the bears have been in control of the short term momentum of this stock.
What now for Apple? Will the falling 50 Day Moving Average continue to pressure the stock and ultimately turn the 200 DMA southward? I believe it's possible, short term, for the stock to test 105. That would present a buying opportunity. Be ready if it happens.
Short term rating = Buy
Long term rating = Buy
What now for Apple? Will the falling 50 Day Moving Average continue to pressure the stock and ultimately turn the 200 DMA southward? I believe it's possible, short term, for the stock to test 105. That would present a buying opportunity. Be ready if it happens.
Short term rating = Buy
Long term rating = Buy