Apple Remains Range-Bound (AAPL)

Shares of Apple Inc. AAPL are currently lower on the session by 3.50% trading at $250.18. The stock has been under some selling pressure over the past five trading days, falling from a high near $262.50. While this is a roughly a 5% retracement in the name, a look at a longer-term chart will show that it’s nothing really write home about. For the past four months, AAPL has been trading in a range from $260 on the topside and $250 on the downside. These two levels are not random be any means; the 50-day moving averages runs right down the middle of that trading range, which shows that traders have mixed views on the stock. I.E. shorts are initiating sell programs when the stock pops above the 50-day and longs are initiating buy programs when AAPL falls below the 50-day. Options trading on the name has been amazingly unamazing as of late, with neither calls nor puts favored over the other since the end of July. Apple Inc. designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, and sells a variety of related software, services, peripherals, and networking solutions. Is AAPL a Buy, Sell or Hold? Click Here.