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Watch for Apple Inc to Potentially Pullback After Gaining 1.65% Yesterday

By James Quinn

Apple Inc (NASDAQ:AAPL) traded in a range yesterday that spanned from a low of $184.42 to a high of $186.76. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $183.99 on volume of 19.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Apple Inc share prices have moved between a 52-week high of $233.47 and a 52-week low of $142.00 and are now trading 32% above that low price at $186.76 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Apple Inc on January 30th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $163.19. Since that recommendation, shares of Apple Inc have risen 12.6%. We continue to monitor AAPL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders apple inc

Ticker(s): AAPL