Apple Stock (AAPL) Falls Again
Posted on Thu 1st Jun, 2006 02:03:44 AM
Things aren’t looking too hot for Apple Computers (AAPL) as the stock has been on a bad slump lately. Today the stock lost another $1.45 and closed at $59.77 a share. Why should you keep an eye on this company?
- It fell below its 200 day moving average yesterday which was a support line. The stock is now trading below the 50 and 200 day moving averages, not good.
- Today was a heavy distribution day. The stock traded over 45 million shares while the average daily volume is normally close to 34 million. It isn’t just average traders who are selling, the big institutions were heavily involved today.
With that said I would keep a close eye on this stock and stay away from taking a position unless something changes technically. Good luck to all AAPL shareholders.
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