Wednesday, 20 September 2017

AAPL - still leaning weak

Apple (AAPL) broke a new historic high of $164.94 on Sept'1st. Since that time, the stock has been declining (if choppily), and today settling lower for the 9th day of 12, -1.7% at $155.99. Near term outlook threatens the 150/49 zone. A hit of the 200dma in the low $140s is very viable (if briefly) in October.

AAPL daily

AAPL monthly


Suffice to add... short term bearish, but unless a few of the US (and other world) indexes see bearish monthly closes (whether Sept' or Oct'), the mid/long term outlook has to be bullish. Note the monthly 10MA, currently in the $141s, and still rising. Unless that is broken and closed under, the equity bears have nothing to tout.