On Nov 1 [see: All Eyes on AAPL] I noted that AAPL, then at 219.55, was likely headed for its 200 DMA down around 192.17.
I argued that if the 200 DMA didn’t hold, the stock’s nearest significant support was at 144.48. I felt a little silly suggesting such a thing.
After all, the company has announced massive expansions of its buyback plan every time the stock gets the sniffles [see: Engineering AAPL’s Breakout.]
The laughter died down when the stock closed below the SMA200 on Nov 13 [see: AAPL Discovers Gravity.]It came within 2.11 on Dec 24, which was close enough to touch off a 9% bounce. Tonight, however, it got that much closer: 144.51. We’ll call this a tag.What happens if the stock bounces here? And, more importantly, what happens if it doesn’t?
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