BullBear Trading: Stock and Financial Market Technical Analysis

Apple Stock Reversal After Buffet News Signals Top In IPhone Maker

Yesterday, news hit the markets that Warren Buffet had increased his stake in Apple Inc.(NASDAQ:AAPL) substantially. The stock moved higher in early trading but has since reversed and gone negative. The reason? A simple gap fill on the daily chart, plus an extended move. Instiitutional money had long since been aware of the increase in Buffet's position making the only buyers today retail investors. The bag was passed to them in early trading as institutions unloaded. Then, Apple Inc. sank. This bearish price action tells of further downside in AAPL. Expected a pull back to $105.00 at a minimum.

 

By Pro-Trader

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