“Shares are down again and have slipped below a key technical level,” Russolillo reports. “They are also nearing bear-market territory, considered a drop of at least 20% from peak to trough.”
Russolillo reports, “The stock recently fell 3% to $578.57, the lowest level since late July, and is down 18% from its all-time closing high of $702.10 hit on Sept. 19. Shares are also poised to close below their 200-day moving average for the first time this year. That’s a key technical level chart watchers pay attention to as a line in the sand that defines uptrends and downtrends. Closing below could portend more trouble for the stock, at least in the near future.”
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