On Friday AAPL regained its Thursday losses plus some. The MACD is on a sell mode, but I guess this will change in the next few days with a close above $102 (gap from Wednesday). Since mid-August AAPL has been range trading between $98 and $103. Price consolidation is per se constructive for an “overbought” stock that wants to breakout to new highs soon. If the 50-day MA, which offered critical support in the last two days, now @ 98.75, stays intact, this will be very positive not only for AAPL but for the Nasdaq-100 index too.
AAPL, daily chart:
Chart courtesy of StockCharts.com. http://stockcharts.com
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