Apple's technicals are looking weak. This "gap down" on the chart is something to keep an eye on. Looking bearish.
If we see it come back to it's 200-week MA then it's likely a buy, correct?
We'll have to see what it looks like after its next major a-b-c correction/downtrend. RIght now, there's no doubt that investors are overlyoptimistic about it. Even if I couldn't turn on a financial TV news channel or search the internet....just seeing how far extended above the 200-week moving average that it is, it tells me how that greed has taken over Apple investors and has caused them to be overly bullish on the stock. So we'll see what it looks like when it breaks higher out of an a-b-c correction/downtrend and how it deals with that 200-week moving average.
Just for clarity for anyone else who may have seen your comment...below the chart you responded to, was the 200-day moving average on the daily chart and the above chart is the 200-week moving average on the weekly chart. James, I know you have it straight but I just wanted to make sure it was clear since we viewed one and talked about the other.