Apple’s Bottom Explained
Posted on Tue 19th Dec, 2006 11:14:33 AM
What I used today to buy shares of Apple Computers (AAPL) at almost the lows of the day was quite simple. The two main factors that allowed me to call Apple as a bottom and oversold where the 50 Day Moving Average and the MACD indicator. Take a look at the chart below to see exactly how both tied in:
As you can see by the picture, the MACD showed the stock as way oversold, and the stock was trading right around its 50 Day Moving Average (50MA), both of these allowed me to take a position with great odds on my money, and as also seen by the chart, it payed off as the stock is now trading closer to $86 and new intraday highs.
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