“Apple Inc. stock has breached a technical level that could signal further weakness, according to one investor,” Jennifer Booton reports for MarketWatch. “Shares of the iPhone maker were [down]… pushing below the $108 level.”
“Andrew Nyquist, an investor who runs the finance and economy blog See It Market, said on Friday that a break below $108 ‘should warn of lower prices,’ while a drop below the $106.26 low of Dec. 16 ‘may warn of a retest of $100,'” Booton reports. “‘Lots of folks are raising Apple price target to much higher levels … $130, $140 or even $150,’ he said. While Nyquist called achievement of these targets ‘quite possible,’ he said an investor’s entry point for such a large-cap stock is extremely important for success.”
Apple [AAPL] shares are currently trading at $105.89, down $3.44, a decline of 3.14%.
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