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Technical Analysis on AAPL

By on March 14, 2013

Technical Analysis on AAPL

Some of our readers have been asking us about whether Apple has finally bottomed or not and if now would be a good time to start buying it again.

The short answer is no however if Apple does manage to close above $440 we would change our minds. A close above $440 would signal a breakout of the current down trend.

While I agree that fundamentally the stock is cheap I definitely wouldn’t buy it at this point unless I was planning to sit on it for a while. If you’re planning to get long we recommend doing so on a break above the downward sloping trend line.

Here are the charts:

Technical Analysis on AAPL Charts

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