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SmarTrend Watching for Potential Pullback in Shares of Apple After 1.43% Gain

By Amy Schwartz

Apple (NASDAQ:AAPL) traded in a range yesterday that spanned from a low of $141.16 to a high of $142.74. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $142.04 on volume of 10.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Apple has traded in a range of $89.47 to $145.46 and is now at $142.59, 59% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Apple on November 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $111.91. Since that recommendation, shares of Apple have risen 25.7%. 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