Bearish Moving Average Cross by Apple (AAPL)

Published on Wed, 03/25/2015 - 11:04
By Mallory Stone in Moving average crossovers, AAPL, apple, moving crosses, nasdaq:aapl

Today, shares of Apple (NASDAQ:AAPL) have crossed bearishly below their 10-day moving average of $126.16 on a volume of 22.2 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Apple has overhead space with shares priced $125.78, or 9.2% below the average consensus analyst price target of $138.50. The stock should find initial support at its 50-day moving average (MA) of $121.84 and further support at its 200-day MA of $107.32.

Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.

In the past 52 weeks, shares of Apple have traded between a low of $73.05 and a high of $133.60 and are now at $125.78, which is 72% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.8%.

By Mallory Stone
mstone@fnno.com

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