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That Didn’t Take Long

Apple Breaks 200-day Moving Average

My blog post earlier today discussed whether Apple might drop below its 200-day moving average. While I was at a lunch appointment, it pushed decisively through the 200-day line. The intermediate trend trumped the short-term oversold levels – at least today.

The 50-week moving average stands at a price of $555, so we are about 5% above that level which will need to hold.

Interesting time for this company.