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Watch for Apple to Potentially Rebound After Falling 2.36% Yesterday

By Shiri Gupta

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.

Over the past year, Apple has traded in a range of $89.47 to $132.97 and is now at $93.87, 5% 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 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