Downtrend Broken Resist.Archive
- 9/8/2023 -
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Apple Computer (AAPL) Technical Analysis
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|It was the negative week for the Apple Computer (AAPL). During the week, the AAPL dropped -11.28 points, or -5.95%, and closed at 178.18 on Friday, September 8, 2023. Weekly volume was 11% above average. |
AAPL is a member of Information Technology Sector. Information Technology is the 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 January 3, 2023 at 124.17 and reached 198.23 on July 19, 2023. AAPL gained -74.06 points, or -59.64%, in 28 weeks. The price is now at the 27.07% retracement level.
Medium-term trend: [See AAPL medium-term trend chart]
A medium-term uptrend had started on August 18, 2023 at 171.96 and reached 189.98 on September 5, 2023. AAPL gained -18.02 points, or -10.48%, in 2 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (182.77) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.
Weekly Technical Indicators: [See AAPL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 4, 2023. 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 September 5, 2023 at 189.98 and reached 173.54 on September 7, 2023. AAPL lost 16.44 points, or 8.65%, in 2 days. The price is now at the 28.22% retracement level.
Daily Technical Indicators: [See AAPL daily technical indicators chart]
Daily technical indicators are neutral. 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. 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 link to access Lane's Stochastic help.
The daily MACD line is above its signal line since August 24, 2023. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.