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team Graham Parlane

Apple Inc - Far enough for now?

Posted by Graham Parlane on 19 November 2012

Hi

Apple Inc. shares have fallen 28% since September (20% since Steve Jobs death) in a rather brutal sell off. As long time writer Dennis Gartman is want to say “Apple was one of the ‘Generals’ leading the equity market troops to the topside in days gone by and has been the ‘general’ leading the way south. Can Apple now lead markets higher again in the near term?

Fridays price action is highly suggestive of very strong buying interest in the US$505/525 area. Perhaps the killer sell off has gone far enough for now ?

AAPL – Click here to view chart

Cheers G.

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