Tuesday, June 01, 2010

Apple Inc. (AAPL) Continues To Show Relative Strength




Apple is a stock I've been writing about lately due to the fact that it continues to show relative strength compared to the overall stock market. Today was yet another example of AAPL's strength. The S&P was down over 1% while AAPL managed to close up 1.54%.

Last week I posted the above 60 minute chart of AAPL which showed that this stock was about to break out of a consolidation. The breakout level was at 252. Today AAPL traded up to 265.94 making a 19 day high but retreated in the last hour of trading when the stock market came under selling pressure.

Apple Inc. (AAPL) closed today at 260.83 which was up 3.95 from Friday's close.

1 comment:

Anonymous said...

I don't trade this but the action could be due to rumors of upcoming release of iphone 4G.
Jack

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