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Tuesday, April 24, 2012

Apple is broken!

Apple has broken its 50-day moving average and is down 13.5% from its recent, all-time high of $644.

The 100-day moving average is around $500 per share, and the 200-day is at about $450 per share.  As can be seen in the chart above, Apple went parabolic - rising at an increasing rate, and then rolled over and is now in full correction mode.  There is no real support on the chart before about $400 per share, so it has a long way to fall.

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