“While the broader market sold off Monday, extending its losses from the prior session, Apple managed to stay positive. In fact, the stock rose more than 1 percent while the Nasdaq composite sank 2 percent,” Matt Maley writes for CNBC. “Still, the tech giant’s technical picture appears increasingly ugly.”

“Last week, I highlighted for clients that the 100-day moving average was a key level to watch. Once the stock broke that line, it fell sharply, with some obvious help from the big decline in the broader market,” Maley writes. “Now, it is already testing its 200-day moving average. That, too, has been a key line to watch.”

Maley writes, “It looks as if the 200-day moving average wants to stymie that decline for now.”

Read more in the full article here.

MacDailyNews Take: AAPL closed today at $156.49, down $4.01 (-2.50%). That’s $23.61 lower than its $180.10 all-time high set twelve trading days ago on January 18, 2018. The stock’s 200-day moving average this morning was $159.56.

How much do you think Apple CEO Tim Cook is looking forward the Annual Meeting of Shareholders at the Steve Jobs Theater in Cupertino on February 13th?

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