Apple, Inc. (AAPL) is breaking below its 50-day moving average as volume picks up sharply going into the last hour of trading on the day. The stock is setting up as a late-stage failed-based short-sale set-up here, using the 50-day moving average at 342.18 or today's high at 347.05 as your guides for an upside stop. Taking a short position here offers minimal risk and may work well if the general market continues to break down. Of course, in many ways AAPL IS the market, so the two are somewhat one and the same. An AAPL breakdown is bad for the general market, and vice versa.
SSS - AAPL Potential Late-Stage Failed-Base Set-up
|Published:||6 Jun 2011 19:28 ET|
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