Apple (AAPL) Closes Last Hour Up $0.48; Breaks Below 20 Day Average, Pin Bar Pattern Appearing on Chart, 2 Day Up Streak Snapped

The Hourly View for AAPL

Last Updated January 12, 2021, 23:24 GMT

Currently, Apple’s price is down $-0.57 (-0.44%) from the hour prior. The hourly chart shows that Apple has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Apple. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 $128.98, down 2.32% ($3.07) from yesterday. This move happened on lower volume, as yesterday’s volume was down 9.49% from the day before — and down 1.32% from the same day the week before. Here is a daily price chart of Apple Inc.

AAPL

Apple Inc Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Apple Inc crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Apple Inc’s price has gone up 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to AAPL:

    $AAPL 120 tomorrow

    The interview was already scheduled prior to last week’s events at the Capitol, King added, with the focus originally supposed to be on Apple’s planned announcement for Wednesday. One possibility for the announcement is the roll out of Apple’s planned privacy changes for iOS 14.

    Apple has already said that it will roll out its new App Tracking Transparency feature sometime in early 2021. The App Tracking Transparency feature requires apps to obtain consent from users before tracking them across other websites and apps. Apple had originally hoped to launch it with iOS 14 in September, but it ended up delaying the feature to give developers more time to prepare.

    Apple has made a habit of emphasizing its focus on privacy during the same week as CES. Last year, Apple retuned to CES for the first time in decades to participate in a privacy roundtable alongside Facebook and other companies.

    Shoain_Zero