|Apple Inc intraday price action 2/15/2012 (NASDAQ: AAPL)|
Just after noon hour, investors sold Apple shares hard and send the stock down 30 points before ending the day at $497.67 per share. Volume today was recorded at 53.70M versus average volume of 13.18M. All these signs point to a technical reversal. The stock was up nearly 3% on the day and then ended up down 2.31%. CNBC mentioned that the stock has hit a intermediate high today which could hold for the next 3-5 months. Resistance is said to be around the $450-460 range where the stock had started post-earnings blowout.
Apple Inc. (NASDAQ: AAPL) is expected to earn $9.41 per share for quarter ended Mar 2012. Estimates from Wall Street analysts ranged from as low as $8.46 per share to as high as $10.95 per share. For the same quarter last year, the company earned $6.40 per share. Revenues are expected to come in at $34.84B. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $440.29 area where the stock will likely see buying pressure.