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Wednesday
Jun222011

Apple (AAPL) Fails First Attempt At Its 200-DMA

Apple (AAPL) briefly traded back above its 200-day moving average today, but it has since reversed and is now closing right near its intraday low.  The stock is down by nearly 12% since its peak on 2/17 and more than 7% this month alone.  Surprisingly, even with the ugly looking chart below (lower highs and lower lows), not a single sell-side analyst who covers the stock has it rated a sell.  Outside a handful of holds (5), every other analyst (48) covering the stock has it rated a buy.  Who will be the first analyst to cry uncle and downgrade the stocks?

 

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Reader Comments (2)

Are you suggesting research analysts downgrade based on technical analysis / charts?

June 23, 2011 | Unregistered Commenterhi

This could be partly a response to the reported peaking of growth in some major Apple products I have read about. Plus the recent market pullback in general, and tech stocks in particular. If the overall trend continues, Apple will be more vulnerable than most due to the first factor. Unless of course, if they bring a new product with huge potential to the market, or announce one is coming, then all bets are off.

June 24, 2011 | Unregistered Commenterhypnosis Los Angeles

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