When it comes to the Commodity Channel Index (CCI), there is oversold and then there is OVERSOLD. Readings below -100 are average oversold, while anything below -200 is really oversold. For just the third time in twelve months, 20-day CCI for Apple moved below -200. Prior readings occurred in June 2011 and November 2011. Apple reports earnings on Tuesday.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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