Apple is the Investor’s Business Daily (IBD) “Stock Of The Day” as the company prepares to unveil its new iPhone 14 and Apple Watch Series 8 at a product launch on September 7th.
Meanwhile, Apple stock has set a new, lower buy point amid the recent market pullback.
Patrick Seitz for Investor’s Business Daily:
Apple stock is in a 34-week consolidation pattern with a buy point of 183.04, according to IBD MarketSmith charts. That buy point is 10 cents above the stock’s all-time high of 182.94 reached on Jan. 4, based on IBD trading guidelines.
However, with a recent retreat in the shares, Apple stock has formed a handle with a new buy point of 176.25.
Aggressive investors also could have picked up Apple stock after a bullish bounce off its 21-day line.
Apple stock has an IBD Composite Rating of 91 out of 99, according to IBD Stock Checkup. IBD’s Composite Rating is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths. The best growth stocks have a Composite Rating of 90 or better.
MacDailyNews Note: More info and charts in the full article here.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
