Apple sees strength following continued record earnings

Apple, which has posted a string of record earnings reports, had its Relative Strength (RS) Rating upgraded by Investor’s Business Daily from 66 to 71 Tuesday — an improvement, but still short of the 80 or higher score that technical investors would prefer to see.

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Investor’s Business Daily and Brian Arthurs:

Apple stock is now considered extended and out of buy range after clearing a 137.17 buy point in a third-stage cup without handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This exclusive rating from Investor’s Business Daily tracks share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price behavior over the last 52 weeks holds up against all the other stocks in our database.

Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an 80 or higher RS Rating as they launch their biggest climbs.

MacDailyNews Take: Yes, but what do the entrails say, haruspex?

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