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Look for Shares of Apple to Potentially Rebound after Yesterday's 2.36% Sell Off

By David Diaz

Apple (NASDAQ:AAPL) traded in a range yesterday that spanned from a low of $92.65 to a high of $94.65. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $94.68 on volume of 29.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Apple share prices have moved between a 52-week high of $132.97 and a 52-week low of $89.47 and are now trading 5% above that low price at $93.87 per share. The 200-day and 50-day moving averages have moved 0.66% lower and 0.14% lower over the past week, respectively.

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

Keywords: rebounders Apple

Ticker(s): AAPL