Apple shares rose after the debut of two new iPhone models, moving back above the stock’s 50-day moving average. According to Investor's Business Daily, AAPL snapped a three-day losing streak and broke out of a short-term downtrend.
The source says Apple stock was at $323.56, up $8.22, or 2.61% on the day. It also notes that the stock is forming a flat base, with a buy point set at 344.57.
IBD Stock Analysis lists Apple’s IBD Composite Rating at 92/99, while its industry group ranking stands at 32/197. The Emerging Pattern section also identifies a Flat Base, which is presented as one of the positive technical signals.
Overall, the technical setup suggests Apple shares are attempting to regain short-term momentum following the product launch.
