Apple share price falls below new buy point

The Dow Jones Industrial Average ended November near record highs, as the current stock market rally continues. Top Dow Jones stocks to watch in December are Apple, Microsoft and Walmart, according to Investor’s Business Daily, which sees the Apple share price as having fallen below a new buy point.

Apple share price. Image: Apple logoScott Lehtonen for Investor’s Business Daily:

The top three performing Dow Jones stocks through Nov. 30 were Apple (AAPL), recently-added (CRM) and Microsoft (MSFT) with gains of 62.2%, 51.1% and 35.7%, respectively…

Dow Jones stock Apple broke out above an aggressive entry at $122.09 on Dec. 1, according to MarketSmith chart analysis. Shares moved down 1.4% Friday and are below the early entry.

Meanwhile, shares are approaching another aggressive entry exists at $125.49 while the conventional buy point, for now, is $138.08.

The blue-chip giant is the No. 1-performing Dow Jones stock for 2020, with a 67.9% advance through Thursday.

According to the IBD Stock Checkup, Apple stock shows an 88 out of a best-possible 99 IBD Composite Rating. The Composite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.

Apple stock is on IBD’s Leaderboard.

MacDailyNews Take: Regardless of the current Apple share price, as Jim Cramer has said in the past: Own Apple, don’t trade it.

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