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Apple Crosses Below its 10-day MA (AAPL)

By Nick Russo

Today, shares of Apple (NASDAQ:AAPL) have crossed bearishly below their 10-day moving average of $108.80 on a volume of 6.5 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Apple has traded in a range of $89.47 to $132.97 and is now at $108.54, 21% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Apple on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $100.10. Since that recommendation, shares of Apple have risen 9.3%. We continue to monitor AAPL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Apple

Ticker(s): AAPL