“Obscured by disappointment over Apple’s latest iPhone models and the ensuing analyst downgrades, the fact that Apple’s stock had hit a golden cross was barely noted,” Sue Chang reports for MarketWatch.

“A golden cross forms when a short-term indicator such as the 50-day moving average breaks above the longer-term 200-day moving average and suggests that the stock is headed for a bull market,” Chang reports. “That is encouraging news for investors who have watched Apple shares lose nearly 7% in value this week after the tech giant rolled out two new iPhones to a subdued reception.”

Chang reports, “After a rough week of downgrades and a steep drop in stock price, the golden cross comes at an opportune time for investors.”

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