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Apple Inc Falls 1.51% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Apple Inc (NASDAQ:AAPL) traded in a range yesterday that spanned from a low of $161.47 to a high of $164.25. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $162.61 on volume of 14.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Apple Inc has traded in a range of $96.42 to $164.94 and is now at $161.68, 68% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Apple Inc on July 19th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $150.68. Since that recommendation, shares of Apple Inc have risen 8.9%. We continue to monitor AAPL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders apple inc

Ticker(s): AAPL