Apple stock price nears key support level

The stock price of Apple is approaching its 50-day support level. 2020’s top three performing Dow Jones stocks in 2020 were Apple, followed distantly by Microsoft and Nike with advances of 80.8%, 41% and 39.6%, respectively. Amid the coronavirus stock market rally, the Nasdaq ended 2020 up 43.6%, its best year since 2009. The S&P 500 was up 16.3%, while the DJIA was up 7.2% in 2020.

Apple Park in Cupertino, California
Apple Park in Cupertino, California

Scott Lehtonen for Investor’s Business Daily:

Among the top Dow Jones stocks, Apple rose 0.4% Tuesday and is nearing its 50-day support level. Shares are also approaching a new buy point at $138.89, according to IBD MarketSmith chart analysis.

In recent weeks, Apple shares have moved above aggressive entries at $125.49 and $122.09.

Apple stock is on IBD’s Leaderboard. Per Leaderboard commentary, “The alternate entry is in the lower half of the base but the RS line is improving. Apple nearly doubled from its breakout in April and will be tough to replicate that run. The base is third stage, which is a reason to have lower expectations this time around.”

MacDailyNews Take: Following Apple distantly is Microsoft’s raison d’être.


    1. Or, maybe for real citizens, start saving early, be committed to the process and one day you’ll likely experience one of the wonders of the World. No need to have getting/being “rich” on the goal list.

      In these times, work is becoming too onerous…especially if/when the govt embraces UBI. Living on other’s money is ok…some have too much anyways. So, no need to commit to saving and you might as well forget ever experiencing the 8th Wonder. Govt flats can be quite ok, I guess…Russians have lived in them for years.

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