Apple’s Cold Streak: Down 4 of the Past 5 Days

The Daily View for Apple

  • Currently, AAPL’s price is up $0.98 (0.8%) from the day prior.
  • Apple has seen its price go up 5 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Of note is that the 20 day changed directions on AAPL; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Apple’s hourly price chart is shown below.

AAPL

The Daily View for Apple

  • At the moment, AAPL’s price is down $-0.85 (-0.69%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Apple has now gone down 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Apple.

AAPL

Featured Apple Idea From TradingView

Below is a trading comment entitled Apple Long you may find interesting:

Price action wise.Weekly Timeframe- we can see we’re now coming out of the Weekly uptrend phase 2 with buying returning last week.Daily Timeframe – Price is currently around the level of 127.00 and as it stand price is failing to create a lower Low. if price continues higher and breaks 127.00 it will not only break formation which can indicate the higher timeframe move, but as price gets above that level, it will confirm buying.4HR – …

kamranwadud