Apple Inc.'s (NASDAQ:AAPL) stock momentum slows leading into 2011 yet AAPL maintains posture with posting small new all-time highs
Apple Inc. (NASDAQ:AAPL) stock momentum is dry as bone as price volatility continues to lag and is essentially on life support leading into 2011. AAPL is not the only stock around suffering from a reduction of significant trend movement, many are. To Apple’s benefit, it manages to keep posting small, all-time highs.
Looking to the provided daily chart of AAPL it is very clear the difference in former to current momentum of this bullish drive.
Particularly after encountering a sobering dose of negative divergence on MACD and on balance volume that sent shares below the most recent higher low at that time, AAPL has struggled to get back on track with rapid gains since then. However, it is difficult to argue with profit even if it is meager.
AAPL has managed to record seven all-time highs in just the past couple of months, so to be upset is somewhat like complaining to a golden goose it is not producing enough. The upcoming year of 2011 will likely usher in a new season of volatility, and short of a retrace if on balance volume reaches another high AAPL will be better positioned from a technical sense to inject some life into price action.
At this time, shares have not managed to break above or below Tuesday’s range. At the time of writing Apple Inc. (AAPL) has a market value of $298,950,351,300 and there are 917,307,000 shares outstanding.