Apple broke out of the downtrend it held all last week and is rallying over 3.50%. Earlier the markets were selling off rather quickly but Apple formed a strong support at $409.35. We are now rebounding again and considering the higher highs we were setting off this particular support, $413 might be in the cards today.
Comments
TrailingVega
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Good point.
StealthTrader
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Stocks tend to have daily ranges that for the most part are respected before profit taking comes in with AAPL that range is around 10-12 dollars which is what we saw today.