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Look for Shares of Apple Inc to Potentially Rebound after Yesterday's 3.17% Sell Off

By Nick Russo

Apple Inc (NASDAQ:AAPL) traded in a range yesterday that spanned from a low of $170.62 to a high of $172.93. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $176.27 on volume of 10.0 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, shares of Apple Inc have traded between a low of $150.24 and a high of $233.47 and are now at $171.09, which is 14% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Apple Inc on October 11th, 2018 by issuing a Downtrend alert when the shares were trading at $215.91. Since that call, shares of Apple Inc have fallen 18.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders apple inc

Ticker(s): AAPL