“Apple Inc. can’t shake its recent doldrums,” Steven Russolillo reports for The Wall Street Journal.
“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.”
Read more in the full article here.