Tuesday, February 27, 2018 12:13:51 PM
Shares of Apple Inc (AAPL) jumped in early trading on Tuesday just ahead of comments from new Federal Reserve Chairman Jerome Powell. After making a new all-time high at $180.48, Apple reversed sharply, turning negative on the day. This reversal may put in a daily topping tail and spell trouble for the stock going forward. Based on technicals, including the epic double top, I shorted Apple Inc with members in the Research Center. This is a pure technical swing trade, expecting this current reversal and more downside in the coming days. I have a near-term downside target of $150.00 on the stock.
Gareth Soloway
InTheMoneyStocks
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