Apple Inc (AAPL) Down 1.1%; Price Base in Formation Over Past 30 Days

The Hourly View for AAPL

Last Updated November 23, 2020, 12:19 GMT

At the moment, AAPL’s price is down $-0.6 (-0.51%) from the hour prior. AAPL has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 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

117.34 was the closing price of the day for Apple Inc, resulting in today being one in which price moved down 1.1% ($1.3) from the previous day. This move happened on lower volume, as yesterday’s volume was down 3.43% from the day before — and down 36.27% from the same day the week before. Here is a daily price chart of Apple Inc.

AAPL

Apple Inc Technical Analysis

Coming into today the current price of Apple Inc is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 30 days Apple Inc’s price has gone down 17 them.

Overheard Around the Web

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

    $AAPL $MSFT
    [Weekend Read] Microsoft Corporation (NASDAQ:MSFT) and Apple Inc (NASDAQ:AAPL) are working together so that the Xbox Series X controller works with devices such as the iPad and the iPhone, the latter said in a support note.
    View the full list of news/momentum plays on watch at : bit.ly/32GfaRt
    [No bias / position]
    [Find me at https://stocktwits.com/sbiswas | https://twitter.com/soumyajyoti_b]"

    sbiswas