Is Apple Stock Ready To Move Higher? - Benzinga
Is Apple Stock Ready To Move Higher?
Successful traders understand how important seller’s remorse is for the market. It occurs when investors sell their stocks, and then watch them move higher. They come to regret their decision.
A large number of them will decide to buy their shares back. But they will only do so if they can get them for the same price they sold at. This allows them to reverse what they now believe was a mistake.
Because of this, they place their buy orders at what was their selling price. If there are enough of these buy orders, it creates support.
This may have occurred with Apple Inc. (NASDAQ:AAPL) around the $142.50 level. It was a resistance level in January and now it may have become a support level. If so, it could set the stage for a new uptrend to form.
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