Apple (AAPL) Closes Last Hour Down $-0.54; in an Uptrend Over Past 14 Days, 2 Day Down Streak Broken, Price Base in Formation Over Past 30 Days

The Hourly View for AAPL

Last Updated November 20, 2020, 23:22 GMT

Currently, 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. 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 $117.34, down 1.1% ($1.3) from the day prior. This move happened on lower volume, as yesterday’s volume was down 3.29% from the day before — and down 36.17% from the same day the week before. The daily price chart of Apple Inc below illustrates.


Apple Inc Technical Analysis

The first thing we should note is that Apple Inc is now close to its 20 and 50 day averages, located at 116.14 and 115.43 respectively, and thus may be at a key juncture along those timeframes. 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 10 days Apple Inc’s price has gone down 6 them.

Overheard Around the Web

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

    $DIA $SPY $MSFT $AAPL Anybody else enjoying the daily Trump loss report recently? It might just be the greatest circus ever performed for the sake of one man’s ego, just to result in repeated beatings to that ego. If it weren’t for being borderline treasonous at this point, this would be absolutely hilarious 😆