The apple stock is cheap, no matter how you cut it, says a market observer

Investors are falling again for Apple.

It does not buy the stock for the moment because of a key technical indicator. Apple's 200-day moving average is currently sloping sideways, he noted, which means the stock could be tied in a short-term range.

The key level that Wald looks at is $ 185. If the stock can break over there – which he did last November – he thinks a rally could be next. That's 3.4% higher than Monday's closing price, at $ 178.90.