AAPL shares traded between their 10- and 20-day moving average on Wednesday and closed in positive ground correcting some of Monday’s losses. The short-term momentum remains negative as long as price stays below $117 but the long-term trend is clearly up. I still believe that AAPL will re-visit its all time highs in the $120 area before year-end.
AAPL, daily chart (3 months):
Chart courtesy of StockCharts.com. http://stockcharts.com
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