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Should You Sell Apple?

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Not just yet, plus a look at the chart.

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MINYANVILLE ORIGINAL While our ChartLabPro.com rating has moved to Sell -- admittedly a worrisome change as this is the first time at this mark, year-to-date -- do not sell Apple (NASDAQ:AAPL) just yet; wait until we're at a Strong Sell or Approaching Oversold. We are watching this name closely and alerted readers on October 22, when AAPL was in the $636 region, about the downward trend starting (see Apple Downgraded From Buy to Neutral).

We specifically told readers not to buy Apple unless the stock moved back to a Buy (4 rating). We will now wait to see if we can get an Approaching Oversold level before doing anything. [Editor's note: ChartLabPro's previous Strong Buy ratings for Apple were triggered on Feb 3 at $455 and again on July 3 at $599. The analysis is geared to identify swing and longer-duration trades, not day trades.]


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To learn more about ChartLabPro's algorithm visit www.chartlabpro.com.
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
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