Momentum Reversal? Apple’s Heads Down for the First Time in 3 Days

The Hourly View for Apple

  • Currently, AAPL’s price is down $-0.22 (-0.17%) from the hour prior.
  • The hourly chart shows that Apple has seen 2 straight down hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly 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 time of this writing, AAPL’s price is down $-0.02 (-0.02%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • 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.

Below is a daily price chart of Apple.

AAPL

Featured Apple Idea From TradingView

Below is a trading comment entitled Apple Could Be Squeezing Toward a Rally you may find interesting:

Apple has been a frustrating stock for most of the year, but now it may be squeezing toward another rally.The first pattern on today‚Äôs chart is its super-tight Bollinger bandwidth, which yesterday was the narrowest since December 2019. That could suggest price is overdue for a move.But which way will it go? MACD just turned positive (the second pattern), which could indicate the move will be higher.Third, AAPL has held its 200-day simple moving average (SMA). Notice the false breakdown below that line on Thursday, which…

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