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Archive
- 12/27/2024 -
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Apple Computer (AAPL) Technical Analysis
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| Summary:
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| | It was a sixth consecutive positive week for the Apple Computer (AAPL). During the week, the AAPL climbed 1.10 points, or 0.43%, and closed at 255.60 on Friday, December 27, 2024. Weekly volume was -43% below average.
AAPL is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See AAPL long-term trend chart]
A long-term uptrend had started on April 19, 2024 at 164.08 and reached 260.10 on December 26, 2024. AAPL gained -96.02 points, or -58.52%, in 35 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (235.56) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See AAPL medium-term trend chart]
A medium-term uptrend had started on November 4, 2024 at 219.70 and reached 260.10 on December 26, 2024. AAPL gained -40.40 points, or -18.39%, in 7 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 238.16 and resistance is at 260.87. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See AAPL weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since December 6, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See AAPL short-term trend chart]
A short-term downtrend had started on December 26, 2024 at 260.10 and reached 253.10 on December 27, 2024. AAPL lost 7.00 points, or 2.69%, in 1 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See AAPL daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since November 18, 2024. The distance between MACD and the signal line is low and getting smaller.
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