Tom DeMark: Apple stock could pop on Monday

“Although it might seem ‘outrageous,’ Apple shares could open up next week, Market Studies CEO Tom DeMark said Friday on CNBC,” Bruno J. Navarro reports for CNBC.

“‘If you look at Apple’s entire decline, the most number of consecutive down days has been three,’ he said on ‘Fast Money,’” Navarro reports. “On Friday, Apple stock posted three consecutive days of losses, which DeMark noted were within ‘a very narrow trading range… That typically is indicative of a market turn,’ he said.”

Navarro reports, “‘It would not be outrageous to expect a gap up on Monday,’ he said. ‘We could turn to the upside on Monday and produce an island reversal.’”

Read more and watch the video in the full article here.

[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]