TMCnet News
SmarTrend Watching for Potential Rebound in Shares of Apple After 2.49% LossFeb 04, 2013 (SmarTrend(R) News Watch via COMTEX) -- Apple (NASDAQ:AAPL) traded in a range yesterday that spanned from a low of $442.00 to a high of $455.94. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $448.35 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. Over the past year, Apple has traded in a range of $435.00 to $705.07 and is now at $442.21, 2% above that low. The 200-day and 50-day moving averages have moved 0.67% lower and 1.6% lower over the past week, respectively. 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 9.8%. 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 |