Is Apple Inc. (AAPL) Finally A Buy?
Having fallen 35% in 4 months and shed over $200 billion in market value, there is little doubt that shares of Apple Inc. (NASDAQ:AAPL) are currently oversold. Not only is the stock trading meaningfully below its long-term 200-day moving average for the first time in four years, it also has more sell and hold ratings from analysts than it has since the trough in 2009.
It has fallen a long way in a little time and its impenetrable luster has lost some of its shine. It’s also why Tom Kee, president & CEO of Stock Traders Daily, is starting to get interested in a stock he says he’s hated forever. Get A Free Trend Analysis For Apple Inc. Shares Here!
“It’s very, very close to being a buy,” Kee says in the attached video. Although the former Morgan Stanley broker turned online trader says changing market technicals won’t allow him to be more specific, he does says that “if it goes up a little more, it’s going to trigger a buy.”
You can see the full “Breakout” interview below: