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Apple Inc (NASDAQ: AAPL) Rebounds from Lows

Jan. 24, 2011 5:05 PM ETAAPL
TimerFrank profile picture
TimerFrank's Blog
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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.

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