• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

The Charts Are Cooking Up an 'Apple' Turnover

AAPL is going lower, according to the indicators.
By BRUCE KAMICH
Feb 24, 2023 | 01:55 PM EST
Stocks quotes in this article: AAPL

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.
 

(AAPL is amoung the holdings in the Action Alerts PLUS member club . Want to be alerted before AAP buys or sells stocks? Learn more now. )

 
 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of theStreet are prohibited from trading individual securities.

TAGS: Technical Analysis | Consumer Services | Movies | Music | Technology | Technology Hardware & Equipment | Telecommunications | Telecom Services | Investing

More from Investing

Market's Narrow and Dull but Not Bad

James "Rev Shark" DePorre
Mar 29, 2023 4:26 PM EDT

Here are the two things that stood out in Wednesday's trading.

Battery Maker Enovix Could Soon Be Charged Up to Rally Further

Bruce Kamich
Mar 29, 2023 2:56 PM EDT

The stock has been impressive but gains from here may be harder to achieve.

This Software ETF Could Tell Us Where the Industry Is Headed

Bruce Kamich
Mar 29, 2023 1:54 PM EDT

Let's see the charts of the iShares Expanded Tech-Software Sector exchange-traded fund.

Add This 'Best Idea' to Your Precious Metals Portfolio

Bruce Kamich
Mar 29, 2023 1:21 PM EDT

Shares of this Canada-based company could rise more than 30% from here.

Except for Energy, I'd Be Wary of Cyclical Stocks

Bret Jensen
Mar 29, 2023 11:30 AM EDT

Another increasing concern for equities is that we are likely to see an 'earnings recession'.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 04:00 PM EDT CHRIS VERSACE

    AAP Podcast: This Solar Company Is a Head-Turner

    Listen to my interview with Brian Roth, CEO of sol...
  • 01:56 PM EDT PETER TCHIR

    Very Cautious

    I am very cautious here. I don't like how the c...
  • 08:58 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    How to Adjust Your Trading Style as Market Conditi...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login