Apple (AAPL) Closes Prior Hour Down -0.2%; Price Base in Formation Over Past 30 Days

The Hourly View for AAPL

Last Updated November 23, 2020, 15:16 GMT

At the time of this writing, AAPL’s price is down $-0.34 (-0.29%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AAPL has now gone down 5 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 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. Let’s take a look at the daily price chart of Apple Inc.


Apple Inc Technical Analysis

Notably, 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. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. 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 They released new iPhones, iPads, all new operating systems, and had all fancy events in past three months. Down 10% in 3 months as of now. WTH!!! I am out, will buy again at $96. Good luck everyone. Bearish for now.