Apple Inc. (NASDAQ:AAPL) stock momentum sends share price to 'higher high' leaving a pair of price gaps in its wake
Apple Inc. (NASDAQ:AAPL) stock was undoubtedly looking rather bleak earlier this month. First, AAPL posted the longest series of consecutive daily losses than it had in the span of a year. Second, it had already taken a negative divergence-induced dive from the standing yearly high of $364.90 before then. However, AAPL began to signal investors were increasingly hesitant to continue bailing to the wayside and newsFuzion looked at the potential for investment firms accumulating shares at discount prices as previously noted in this article published on Monday.
True to the title of this article is that AAPL has set a new higher high, breaking above the $354.32 price level which is the first indication of a bullish trend reversal since March when the first lower low was set after the yearly high. Notable is that AAPL regularly does retrace and recover price gaps, two of which have been former yesterday and now today. Whether momentum is sustained into trading next week as Good Friday is slated to be observed tomorrow, traders will know first thing this upcoming Monday.
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 $323,654,174,180 at the time of writing, with 921,278,000 shares outstanding.