Consumer disappointment can lead to a drop in apple shares

Shares of the tech titan have closed below this threshold 45 times in the past five years, typically gaining 1.2% in the five days following the dip. Some investors consider the 50-day moving average an indicator for short-term uptrends and downtrends. Apple stock last dipped beneath its 50-day moving average in July.

But Apple shares remain well above their 200-day moving average, which is considered a longer-term indicator. July 2016 was the last time Apple stock traded below that threshold.

Apple’s relative strength index indicates that it is neither overbought nor oversold, but the moving average convergence divergence (MACD) indicates a downward trend, Bloomberg data showed.

Apple stock finished trading down 1.68% Wednesday to $156.07 as concerns over connectivity issues with its new Apple Watch Series 3 and substantially lower iPhone 8 orders came to light. Shares were down 1.26% in mid-afternoon trading on Thursday, Sept. 21.

Source: Bloomberg Pro Terminal

Trader I. Ivanov

 Varchev Traders

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance