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Apple Inc Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

Shares of Apple Inc (NASDAQ:AAPL) traded at a new 52-week high today of $192.58. This new high was reached on below average trading volume as 6.3 million shares traded hands, while the average 30-day volume is approximately 30.7 million shares.

Potential upside of 1.8% exists for Apple Inc, based on a current level of $192.58 and analysts' average consensus price target of $196.06. Apple Inc shares have support at the 50-day moving average (MA) of $176.95 and additional support at the 200-day MA of $169.74.

Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.

Over the past year, Apple Inc has traded in a range of $142.20 to $192.58 and is now at $192.58, 35% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Apple Inc on May 2nd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $175.77. Since that recommendation, shares of Apple Inc have risen 8.2%. We continue to monitor AAPL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows apple inc

Ticker(s): AAPL