Shares of Apple rose 2.99% in Monday trading, with the stock continuing to hold above the widely watched 50-day moving average (DMA), which many on Wall Street view as a intermediate-term trend tracker.
The stock closed just 2.98% above the 50-DMA on Friday, the narrowest spread since April 28. The last time it closed below the 50-DMA, which is currently at $109.21, was April 21.
On Monday, Apple’s 50-DMA was rising by 0.42%, compared with Friday’s 0.39% rise, which was the slightest gain since the 0.37% rise on July 29.
The 50-DMA first started declining post-COVID-19 on Feb. 27, but has been rising every day since it May 6. The post-COVID-19 closing low was on March 23. Meanwhile, the Nasdaq 100’s NDX, 1.72% 50-DMA is also still rising, but the 0.13% on Monday is the smallest rise since May 15; the Dow Jones Industrial Average’s 50-DMA rose Monday by 0.16%, and has been rising every day since May 21.
MacDailyNews Take: As Jim Cramer says, “Don’t trade Apple. Own it.”
Eh. Not bad. Apple kept pace with the broader market with a 3% rise and just a teensy bit behind Tesla’s 12% rise. Hopefully, investors will get excited over what Apple has to offer at Tuesday’s virtual event.
The cinycal Snaplle phule will hait it, though. There isn’t a good news story he doesn’t like and there isn’t a bad news story he doesn’t celebr8.
Tomorrow he’ll be sliming his way here leaving his little piles of exrementos in various posts, as a way to show us all his superiority. Very predictable. Surprised he’s not already here, but he will be. He will be.
let me yank the chain…
trump closes poll numbers, wall street feels a bit more hopefully. Wall street worried about the impending tax rate hikes
stop lying !!!! Future President Biden NEVER said he was raising taxes.
Could go to 40 %
Meanwhile CCP China capital gains tax rate is 20%
Ok Joe will make us much more competitive on the world stage. We all know the Mega Rich have no ability to move their assets off shore. We all know the mega Rich are much more likely to keep their money here in the USA and pay a double tax rate vs moving their money to more tax friendly markets.
Its funny Warren Buffet who is very anti Trump and very Pro Obama, The same Warren Buffet who was so vocal in 2012, 2016 is remain silent this election cycle.
don’t hate the messenger. Im not choosing sides in the moral argument of Biden vs Trump. Im here for all the people invested heavily in AAPL, just keep you eye on the ball, this great ride can’t continue forever, all good things come to an end. If Trump is elected we will break 200, If biden is elected we will live below 100 until will see where his mind is at 🙂
Been patiently adding small dips to my long position. Not a price drop to load a boat, but also no reason to stay completely away.