January 25, 2011
Shares of Apple Inc (NASDAQ: AAPL) have tested support twice in the past week and both tests have resulted in a reversal to the upside.
On Tuesday January 18, shares prices reached an intra-day low of $326 before rebounding. On Friday January 21, share prices again reached lows at $326 a share and this time closed at those lows.
The rally on Monday January 24 pushed share prices up to $337, adding on 3.4%.
The correction may not be over, but certainly a tradable bottom has now been created at $326.
A bullish trade using a sell stop below $326 a share offers a low risk entry into one of the hottest stocks in the marketplace today.
The http://www.fibtimer.com Stock Timer Strategy does not currently have a position in Apple.