With Apple (AAPL) Gone, These Stocks Remain Trading over their 200 Day Moving Average for >500 Days

Apple (AAPL) rebounded (with the rest of the market) late in the day to essentially close right at its 200 day simple moving average.  If something closes +/- 0.25% within a moving average I am not going to penalize it for breaking support, but according to Bespoke Apple closed below that key level for the first time in 551 days.  (these look to be days the market are open, not just calender days)

However, it was not the stock with the longest such streak – indeed that honor was/is reserved for (wait for it) – the nearly impervious stock of Netflix (NFLX) at 620 days.  Indeed with the fall of Apple there are only 10 such stocks which have had streaks of over 500 days.  Strangely, 2 of the 10 are associated with food staples (HRL, MKC)… not exactly the sexy high beta thing you’d think of.  “I want my Salesforce.com” and Chipotle are more the type of names I expected on this sort of list.

About Mark Hanna 543 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

Follow Mark on Twitter @fundmyfund.

Visit: Market Montage

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