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Look for Shares of Apple Inc to Potentially Rebound after Yesterday's 2.62% Sell Off

By Nick Russo

Apple Inc (NASDAQ:AAPL) traded in a range yesterday that spanned from a low of $256.33 to a high of $258.50. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $263.45 on volume of 4.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Apple Inc share prices have been bracketed by a low of $142.00 and a high of $268.25 and are now at $257.25, 81% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for Apple Inc and will alert subscribers who have AAPL in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders apple inc

Ticker(s): AAPL