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9 Takeaways From Apple's Chart

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Thirty-six out of 38 analysts covering Apple rate the shares a "buy" or better. Here's what else the chart is showing.

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Today's chart is of Apple Inc. (NASDAQ:AAPL), which manufactures and markets mobile communication and media devices, personal computing products, and portable digital music players worldwide.


Click to enlarge

What I Am Looking At:
  • Outperformance on a year-over-year basis, +35%.
  • Short-term trend remains down.
  • Facing resistance from the declining 40-day moving average and the downtrend line (blue).
  • Major January call open interest resides at the 550 strike (mostly bought-to-open) which could pressure shares lower if resistance is not taken out quickly.
  • Volume by price indicating possible resistance zone between $580-600.
  • Ten-day buy-to-open call/put ratio is 1.51.
  • For every 147 open calls there remains 100 open puts, which is close to an extreme in optimism.
  • Since August 2012 short interest has grown by 67% but only represents 2% of the float.
  • Thirty-six out of 38 analysts covering AAPL rate the shares a "buy" or better.
This article by Tony Venosa was originally published on Schaeffer's Investment Research.

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