AAPL shares experienced their worst day since September, falling 3,25% on the day, to a 7-day low of 115,07 on the close. The intraday low was 111,27, the lowest price in about 3 weeks. Some profit-taking or consolidation was to be expected after the 20% parabolic price increas move of the last month. We will not read that much into today’s fall yet, but will keep a close eye on the next few sessions to see whether the stock will re-visit its all time highs in the $120 area. The short-term (daily) trend is now negative as long as price stays below $117. I still believe that AAPL will have a decent performance in the month of December, before the current bull market runs out of steam.
AAPL, daily chart (2 months):
Chart courtesy of StockCharts.com. http://stockcharts.com
Please read the Disclaimer!