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February 22, 2006
Apple Holding Relatively Strong
Despite Tuesday’s decline, Apple held relatively strong and the breakout is holding. The stock broke falling price channel resistance with a surge above 70. In contrast to the Nasdaq 100, Apple is still above last Wednesday’s low. I will be watching this stock for clues on Technology in general. Apple is a leader and it is important that this stock hold above 67. A move below 67 would make for a failed breakout and weigh on the Naz.
Posted by Arthur B. Hill at February 22, 2006 12:06 PM