Apple Inc. (NASDAQ:AAPL) stock uptrend is reconfirmed by rising above last Wednesday's high signaling trend direction
Apple Inc. (NASDAQ:AAPL) stock uptrend is reconfirmed by setting a higher high before Tuesday’s trading session was a wrap for today. AAPL reached $345.65 at 3:26 P.M. Eastern and sustained momentum carried over from Monday. This high sets it above last Wednesday’s high, confirming AAPL has re-continued its uptrend.
AAPL was dangerously close to the 50 SMA last week after shares fell due to Jobs announcing a leave of absence, an announcement made on a weekend when Asian markets were open. This was potentially done to mitigate what damage could incur on a standard NASDAQ trading day, during trading hours. Since then, AAPL has finally found it’s footing once again and has continued to accumulate bullish momentum.
Apple Inc. (AAPL) designs, manufactures and markets a range of personal computers, mobile communication and media devices, and portable digital music players. The company also sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The company has a market value of $316,498,434,210 at the time of writing, with 917,307,000 shares outstanding.