Apple, Inc.’s (NASDAQ:AAPL) Chart Has Broken Down
Apple Inc. (NASDAQ: AAPL) is one of the most market-focused stocks of all. Now its chart is indicating real trouble ahead.
Apple shares have broken under their 200-Day MA for the 1st time since September of 2013. While that instance was a false test of the Key 200-Day MA, the breakdown that took place under the 200-Day MA late in Y 2012 was after shares peaked at 95.00 (split adjusted) and shares ultimately bottomed out at the post-split equivalent price of 55 in 2 separate waves in Y 2013. Apple shares recovered to 80 in late Y 2013, but it was not until April of Y 2014 that Apple went into rally mode.
The Big Q: Is this the type of technical event that was false in September of Y 2013 or if it is the start of a serious fall that was seen in Y 2012. If it is the latter, then investor sentiment may have a serious test again.
Apple’s 200-Day MA 120.32, and its 50-Day MA is at 126.86. The 200-Day MA is important because it is the average closing price of almost all the trading days in the past year. Long-term chart watchers treat that as a Key critical point in most cases.
The Fundamentals
The fundamentals are mixed. Plus the earnings report was clouded by overall too optimistic.
The Technicals
All of my technical indicators are Very Bearish to Neutral, there is no support under Monday’s closing price of 118.44/share.
Direction: South
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| NASDAQ:AAPL | 118.44 | 3 August 2015 | -2.86 | 121.5 | 122.57 | 117.52 | 69,975,900 |
| HeffX-LTN Analysis for AAPL: | Overall | Short | Intermediate | Long |
| Bearish (-0.32) | Bearish (-0.27) | Bearish (-0.46) | Neutral (-0.24) |
Stay tuned…
HeffX-LTN
Paul Ebeling
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