AAPL - upside to the 200 day MA

Whilst the main market indexes saw moderate declines, Apple (AAPL) was one of the bright spots, closing +$7 @ $448. Near term trend is bullish, and a test of the declining 200 day MA in the $470s looks very viable within the next 3-10 trading days.


AAPL, daily

Summary

Another 1.6% higher for AAPL, and its continuing a pretty strong run since the late June low in the low $390s.

If the main market does see some significant weakness - back into the sp'1600/1550 area in late Aug/early Sept', it will be interesting to see if AAPL can hold the very important mid April low.

Best guess...yes. Baring a secondary wave lower in Oct/November, AAPL looks to have a good chance to close the year back in the 500s.

Relative to the main market..AAPL is grossly mispriced.