Apple announced its 7-for-1 stock split on April 23, 2014 and started to trade split-adjusted on June 9, 2014. Netflix announced their stock split on Tuesday, June 23 and will begin to trade split-adjusted on July 15.
A major difference between Netflix and Apple is that Netflix has been a strong stock getting stronger, while Apple was sliding going into April 23, 2014. Let's take a look at the daily and weekly charts for both stocks and show the key levels as a guide to current trading strategies.
Here's the daily chart for Apple.
Courtesy of MetaStock Xenith
Apple closed at $127.03 on Tuesday, up 15.1% year to date, but down 5.6% from its all-time intraday high of $134.54 set on April 28. The stock closed just below its 50-day simple moving average of $128.37 and well above its 200-day simple moving average of $117.36.
Apple announced its 7-for-1 stock split back on April 23, 2014 along with a huge earnings beat. The stock had a split-adjusted close of $74.96 on April 23, just below its 50-day simple moving average then at $75.90. On April 24, the stock had a price gap higher with an open of $81.17, up 8.3% and began a new momentum run-up.