Share of Apple (AAPL) getting new 52 weeks low but other side Google (GOOG) getting new 52 weeks low.Traders have had on a short Apple (AAPL), long Google...Traders have had on a short Apple (AAPL), long Google (GOOG) pairs trade for months. The relative value of that trade may be inverting and it is possible that in the short run at least traders could reverse it. Apple shares hit their long-awaited $420 price target on Monday.That could be enough to bring in some buying. There is also now a potential inverted bullish head and shoulders on a short-term chart basis in Apple that would trigger above $435 and have upside to $450. With Google at fresh life highs, the relative valuation disparity could be attractive. A target might be that retest of $450 on Apple and mean-reversion to $800 in Google which is good area to GOOG long again.
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Apple (AAPL) Technical Analysis Stock Charts: Charts Below
60m chart
Daily chart
Weekly chart
Google (GOOG) Technical Analysis Stock Charts: Charts Below
Daily chart
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