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Asset Watch
Wednesday, February 8, 2023
While market volatility should remain until central banks tame inflation, could Apple be a healthy addition to your portfolio?
On Feb. 3, Apple closed above its 50-week moving average for the first time since August. The grey arrows show how the 50-week MA essentially marked the bottom in March 2022 and the top in October 2022. Likewise, after an initial close below the key level in March 2020, Apple regained its composure and continued its uptrend.
On top of that, Apple’s weekly RSI ended the Feb. 3 session at 57, which is far from overbought. With prior rallies hitting or exceeding the 70 thresholds, the upside potential remains as long as Apple holds its 50-week MA ($150.67).
So, could you be a buyer at these levels?
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