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Today’s chart is of Apple Inc. (AAPL) which manufactures, and markets mobile communication and media devices, personal computing products, and portable digital music players worldwide.
Ticker: Apple Inc. (AAPL)
What I Am Looking At:
- Outperformance on a year-over-year basis, +35 percent
- Short-term trend remains down
- Facing resistance from the declining 40-day moving average and the downtrend line (blue)
- Major January call open interest resides at the 550-strike (mostly bought-to-open) which could pressure shares lower if resistance is not taken out quickly
- Volume by Price indicating possible resistance zone between $580-600
- 10-day buy-to-open call/put ratio is 1.51
- For every 147 open calls there remains 100 open puts which is close to an extreme in optimism
- Since August 2012 short interest has grown by 67 percent but only represents 2 percent of the float
- 36 out of 38 analysts covering AAPL rate the shares a “buy” or better