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Apple Stock Still Weak

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Long-term investors who are not looking to trade the stock should wait for a 'buy' signal.

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MINYANVILLE ORIGINAL Back on December 18 we alerted readers that our proprietary countertrend indicator reached an Oversold level on Apple (NASDAQ:AAPL). This was the first Oversold reading since the 30% slide in the stock. The stock is still technically very weak and rated a Strong Sell. If traders got long on this countertrend trade, we would suggest considering a mean reversion trade approach as long as the name remains a Strong Sell. Right now the stock is about .70 to .80 standard deviations below the 50-day moving average depending on the open. We would look to reduce exposure and take profits once the stock reverts to the mean.

For long-term investors who are not looking to trade the stock, we would wait for a Buy signal or 4 Rating.


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To learn more about ChartLabPro's algorithm visit www.chartlabpro.com.
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No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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