There finally appears to be a changing of the guard taking place, as Apple's long overdue correction takes hold. In turn, this is apparently sparking an institutional rotation of funds out of Apple and into Google.
While I certainly don't believe Apple is finished for good, the technical damage done to the stock chart will take at least many months to repair itself. If anything, Apple may present an ideal short selling swing trade on a bounce into resistance of its 50-day moving average. Otherwise, it's probably best to stay on the sidelines.
In this article, learn about the rotation from Apple into Google that seems to be taking place...
Google's star rises as Apple fades (via
AFP)
Eric Piermont/AFP/FileGoogle logos, December 4, 2012, Paris. Google has retaken the role of superstar of the tech sector with a stunning stock rally as rival Apple flounders.Google has retaken the role of superstar of the tech sector with a stunning stock rally as rival Apple flounders. Google has…
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