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Apple: Heading For Breakout Or Breakdown?

By Avi Gilburt:

Last week, Apple, Inc. (AAPL) seems to have wowed the public with its announcements and showing at the World Wide Developers Conference. In fact, one headline read "WWDC 2012: Apple Had a Pretty Amazing Day." The author noted the overwhelming new products that Apple presented, including MacBook Pro, iOS 6, and many other peripherals and updates. In fact, all in all, it seemed like quite a positive day for Apple.

But if we took a look at the stock price, on the very day of all the "fundamental" positives, Apple stock declined 3%. Does that leave you scratching your head or will you simply attempt to find some "reason" that will make you feel better about why the stock declined? In truth, the day before, I published an article on Apple calling for "a pullback [to] begin shortly." Furthermore, I even provided the target for the pullback when I wrote


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