Apple (AAPL) Closes Prior Hour Down -0.39%; in an Uptrend Over Past 30 Days, 2 Day Up Streak Broken, Bearish Engulfing Pattern Present

The Hourly View for AAPL

Last Updated December 30, 2020, 02:014 GMT

At the time of this writing, Apple’s price is down $-0.28 (-0.2%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Apple has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Apple Inc Daily Price Recap

Apple Inc entered today at $134.87, down 1.33% ($1.82) from the day prior. The price move occurred on volume that was down 4.58% from the day prior, but up 25.89% from the same day the week before. Below is a daily price chart of Apple Inc.


Apple Inc Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 14 and 30 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about AAPL:

    $INFY is due for a course break up , 2021 will bring this into $20s category. Usually, the price manipulation becomes violent as the company is notoriously known to split once crosses into 20-22 range. This time it seems to be reaching that point faster than before. Same happened to $AAPL. For those who are long like 10 years time horizon these two stocks have tremendously rewarded. Consistently growing and no worries of overnight collapses unlike other where they shot up into $100s and then after 10 years crash.

    Good return, consistent growth, increase equity!