Apple ( AAPL) is perhaps the most closely followed company on the face of the planet. Many people track all the new developments as they can become "game changer" moves. As a technical, analyst I follow the moves of the stock price.
Let's check out the charts and indicators.
In this daily bar chart of AAPL, below, I can see that the price of AAPL is now back below the declining 200-day moving average line. (A number of bullish analysts, both technical and fundamental, have pointed out the number of stocks that are trading above their 200-day moving average lines. Here is one leadership stock that has reversed direction.) The daily On-Balance-Volume (OBV) line looks like it has made a top in February. The Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside for a take-profit sell signal.
In this weekly Japanese candlestick chart of AAPL, below, I can see that some recent candle patterns show upper shadows. Upper shadows are a sign that traders are rejecting the highs and a warning sign that prices could retreat. The weekly OBV line shows a decline from February 2022. The MACD oscillator is below the zero-line, but showing a cover-shorts buy signal.
In this daily Point and Figure chart of AAPL, below, I can see a downside price target in the $137 area.
In this weekly Point and Figure chart of AAPL, below, a price target of $137 is also shown.
Bottom line strategy: Shares of AAPL are turning lower. A pullback to the $137 area is possible, but the early January low is the real chart point to watch.
Another increasing concern for equities is that we are likely to see an 'earnings recession'.
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