I don’t spend too much time trading high priced U.S stocks but see that good ol Apple has now touched the 200 SMA from below.
Take a quick look here:
Aapl – April 4th
Strategy wise this is pretty straight forward – placing “limit sell orders” under 110 – 109.00 and just let the market do her thing.
You’ll get picked up with momentum….otherwise you are safely tucked away should Apple shoot for the starts…but I find that highly unlikely.
Many believe that Apple is a pretty good indicator of “markets as a whole” so it bears consideration. A turn lower here at the 200 SMA looks quite probable.