Apple finding support right above prior low

by Josh Apple Inc. ($AAPL) is catching a bid today after trading down to $388.87 this morning, just above the April low of $385.10. Shares are currently trading at $399.71 up 1.51% on a volume of 11,150,000 shares putting shares on track for slightly above average volume today.

Technical traders will watch shares next week to see if today’s action results in a high low for Apple. A higher low would give bullish traders a short term catalyst. A break of April’s low would most likely give bearish traders some additional momentum, and another catalyst for traders looking for a move to the downside.

Apple has been trading down the past two weeks after failing to hold the 50 day moving average, currently at $431.71.

52 Week Range $385.10-$705.07 Market Cap 375,037,207,950 Average Volume 15,473,332 Dividend Yield 3.10% Institutional Ownership 59.50% Insider Ownership: 0.70% Percentage of Float Short 2.60% Beta 0.98

Apple Inc designs, manufactures, and markets personal computers, mobile communication devices, media devices and portable digital music and video players and sells a variety of related software, services, peripherals, and networking solutions.

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