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After Yesterday's Rally of 1.09% Shares Could Potentially Pullback

By Nick Russo

Apple (NASDAQ:AAPL) traded in a range yesterday that spanned from a low of $108.08 to a high of $109.54. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $108.93 on volume of 13.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Apple have traded between a low of $89.47 and a high of $132.97 and are now at $109.31, which is 22% above that low price. The 200-day and 50-day moving averages have moved 0.66% lower and 0.14% lower over the past week, respectively.

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 8.1%. We continue to monitor AAPL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Apple

Ticker(s): AAPL