Chart Damage in Apple on Above-Average Volume (AAPL)

Posted in General 
June 16th, 2011

Apple Inc. (NASDAQ: AAPL) has been the greatest growth story of the last decade.  It has also been the greatest product company of the last decade.  But now it is a company fighting wars on many fronts, and the iPad and iPhone are actually competing for business of Mac sales.  You already know that.  What matters is that Apple’s stock chart had a technical violation as the stock took out its 200-day moving average.  Apple has traded lower than where it traded today, but this is the first 200-day moving average violation in quite some time.

The 200-day moving average is $325.55 and the 50-day moving average is $339.34.  Google just closed today at $325.16 on above average trading volume of more than 18 million shares and its 52-week trading range is $235.56 to $364.90.

We previously noted ten reasons why Apple won’t pay a dividend any time soon.

Maybe you can use a tie-in for the Horsemen stocks of technology… Google is exhibiting severe chart weakness and it broke under $500 for the first time since last year.

JON C. OGG

3-year chart provided by stockcharts.com:

Comments are closed

-->