Apple Inc. AAPL 1.49% may be the most popular topic of debate on Wall Street. The company’s massive profits, huge cash reserves and low multiple have value investors salivating. But iPhone saturation and slowing growth numbers have others worried that Apple’s stock’s best days are behind it.
In the short-term, the bears are winning the argument. The stock is down 21.8 percent in the past year and is struggling to find a return to its bullish ways so far in 2016.
Apple bulls are hoping that the stock’s 6 percent gain in February is a sign that Apple is back on its way to its all-time highs. Unfortunately, the stock seems to have once again run into some selling pressure at around $101.
If Apple can close significantly above $101 at some point in the next couple of trading days, it would be a positive indicator for bulls that the stock could soon be back to test the longer-term downtrend resistance line at around $110 to $112. However, if the stock fails to penetrate $101, it may be…
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