AAPL - battling higher

Whilst the main indexes closed somewhat lower, Apple (AAPL) closed +1.5% in the $471s. Near term trend is moderately bullish, and equity bulls should be seeking a weekly close above the 10MA of $474/75.The $500s look viable in October.


AAPL, daily

Summary

Tech' was one of the stronger sectors today, and AAPL was one of the clear leaders. The daily close was pretty bullish, but still, AAPL is stuck under the rather important 10MA.

Without question, all those seeking mid-term gains into the $500s should be desperate to put in a weekly close >475. That certainly is viable tomorrow..if not at least next week.
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Despite a lot of negative mainstream opinion on the stock, relative to the main market, AAPL remains very cheap.

Something to consider, how can AMZN trade where it is..whilst making no profit, and AAPL trades with a sub market P/E ?

Crazy times...crazy valuations.