ChartLabPro.com has downgraded Apple
(NASDAQ:APPL) to a Hold from Buy as of the close of Friday. Our proprietary algorithm has worked well with Apple as seen below:
Went to a Strong Buy on Feb 3 at $455 and sold April 26 for an average price of $600.
Went to a Strong Buy on July 3 at $599 and sold Sept 16 $691.
We would wait for an upgrade to a buy before jumping back into this name.
Ratings are as follows: 1 Strong Sell, 2 Sell, 3 Hold, 4 Buy, and 5 Strong Buy.
ChartLabPro.com algorithm has been in use for 13 years and combines both statistical and quantitative analysis to run institutional money.
The algo uses over 200 indicators that are bucketed into 10 silos and updated at the market close.
These rating changes are best utilized for swing trades to longer-duration trades. The ideal long alert would be a 4 (Buy) to a 5 (Strong Buy) rating. These are not best utilized for day trades.
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No positions in stocks mentioned.
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