Does this chart look like a broke chart in relation to market action? (It is an AAPL chart with an SP500 overlay since the market craziness started in late July. The SP500 is in red.)
1. It followed the market until the week of Sept 12th.
2. It out performed until they reported earnings, not beating analysts expectation.
3. Thereby allowing the market to catch up to its performance. (The under performance continued with its decline 3days ago.)
And with today's performance, surprisingly enough, the negative chatter is dissipating. (surprise, surprise) Of course that can all change tomorrow if the market is up and Apple is flat to down.
Two days ago there was action that merited a hold, as the risk to see the low 370s became lower. At the high 380 level, there are short-term hurdles for the stock.