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SmarTrend Watching for Potential Rebound in Shares of Apple Inc After 3.17% Loss

By Shiri Gupta

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.

Apple Inc share prices have moved between a 52-week high of $233.47 and a 52-week low of $150.24 and are now trading 14% above that low price at $171.09 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has remained constant.

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