Apple: New Highs Ahead?
Petros Steriotis | Sep 28, 2014 12:56AM ET
On Friday Apple Inc (NASDAQ: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 at 98.75, stays intact, this will be very positive not only for AAPL but for the NASDAQ 100 index too.
AAPL, daily chart:
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