Despite General Market Weakness, Apple Showing Relative Strength
Petros Steriotis | Oct 14, 2014 07:19AM ET
Despite the general market weakness, Apple Inc (NASDAQ:AAPL) has been showing big relative strength, even though it closed below the crucial psychological support of $100 yesterday. The stock has been trading within the 98-103 range during the last two months. The daily trend is neutral now.
Current consolidation a few dollars below all-time highs keeps my scenario of new price records soon, on the table. It makes sense to say that when the market rebounds, AAPL will easily make new record highs.
AAPL, daily chart(3 months):
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