Apple Retrace Begins: Here's The Target
InTheMoneyStocks.com | Aug 20, 2018 02:41PM ET
Shares of Apple (NASDAQ:AAPL) started the week with a surge higher. Since earnings, Apple has soared 15%, passing the $1 trillion mark. With the stock now at extreme overbought levels, smart investors are on the short side. As of noon on Monday, the stock had turned negative, falling approximately $3 from the highs. This reversal day signals the beginning of a retrace of the recent gains. Pro traders expect a pullback to the $200 level, a return to the uptrend trend line. Once this happens, the stock should find footing once again.
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