On Wednesday we hit an approaching overbought level in Apple.
The last time we hit an approaching overbought level was September 2012 around $680. For risk adverse trades or investors we reduce equity exposure at approaching overbought. For more aggressive traders we wait for an overbought level. ChartLabPro.com’s counter trend system that measures price exhaustion does not use the relative strength index (RSI) as an indicator for overbought levels.
As seen by the 26 day rating value represented in the green bars the strength of the stock is still very strong.
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