Apple’s share price is bumping up against a key level

“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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  1. Apple was essentially the only major stock that stayed in positive territory until the very last hour of the trading day, by which time it was obvious that a bloodbath was in progress. Normally, stocks fall because people are shifting to bonds, but that market didn’t do all that well today, either.

    1. Apple stock started falling two weeks ago, so it’s not as though Apple hasn’t been taking any hits. From about $178 to $156 you can’t say Apple has completely escaped a bloodbath. Apple basically took a dozen razor cuts over a two-week period thanks to fake news. Still, look at Apple’s P/E compared to any FANG stocks and Microsoft and you’ll see Apple has been totally shafted by rather high P/E compression. Fortunately, that repatriated $163B is still worth $163B after the bloodbath, so Apple remains holding Thor’s Hammer. I might not like how Wall Street disses Apple, but I’m not concerned as long as I get my dividends. My entire portfolio is comprised of dividend stocks. I get paid whether the market goes up or down.

      1. Fake news… huge problem across the board..
        I hope at some point all this unaccountability gets resolved through some regulations that will punish the irresponsible rouge media and anacysts and alike.

          1. There can be no rule of law — no justice — without regulations. Libertarians time and again are shown what shallow thinkers they are. While clamoring that all regulation is evil, they demonstrate again and again that they don’t understand the real reasons for the rules, the costs or benefits, or the time and technical aspects thereof. We all want to leverage new technologies to make civilization as cost effective and efficient as possible. Well that is a messy process of allowing people with different points of view to collaborate and compromise with you. Of course there now exist a huge number of people who don’t want to study all aspects of any issue. Almost as lazy as libertarians, these partisans just subscribe to party propaganda, becoming an unthinking drone bee in a no-win war of obstructionism, team A versus equally corrupt team B.

            Neither liberarians nor partisans are making the republic or the world a better place. If you cannot participate in civil, educated discourse, then you are not a constitutionalist, you don’t love the American process of government, and you really need to ask yourself why you think why you would prosper if the constraints on everyone were magically erased. You think you are the smartest, strongest, best connected and you will never encounter setbacks, sickness, financial headwinds, etc? When your clique take over you will fix everything? To ask the diehard libertarian or partisan, they think they are bulletproof and then hypocritically tell other people that the world was better off when a wild west shootout could decide disputes and the vast majority of people worked until they died, 12 hours or more per day, in sweatshop conditions at best. You want to weaken the big bad government, start with implementing better technology and refining regulations, not attempting to turn back the clock to crude filthy days that you never had to experience, thanks to republican reforms like the clean air and clean water acts, the Sherman antitrust act, as well as democrat led labor reforms, civil rights, women’s suffrage, food purity laws, and so forth. And yes, taxation like Lincoln and Eisenhower levied in order to pay off debts so the stuff you enjoy today doesn’t have to be paid off three times over by your children and grandchildren through unending debt financing. The world is better thanks to rules. Just make better rules. Where is the party of reform?

  2. I’m willing to bet that when the market starts to recover, all money is going to the FANG stocks while leaving Apple out in the cold. Microsoft held it’s share price much better than Apple did, so again, Microsoft turns out to be the stronger or less volatile investment even with a P/E of 59. Jeez. How did Microsoft get so strong with complete investor confidence? Apple remains clouded in investor doubts.

  3. Why does Apple continue to need investors in the first place. In the second place, investors are bloodsuckers and hangers-on. Just look what they are doing to Apple’s reputation as deviners!

  4. Apple’s only an innocent bystander here. This is just a market correction as investors see upcoming interest rate increases now that the economy is stronger. It’s just profit-taking because of the new tax bill and lower rates on the rich. And the rich are using that profit to reduce some of their debts in the face of increasing interest rates. And to make up artificial “key levels” and “key lines”, to call Apple’s picture “increasingly ugly” is just hot air from another internet click whore. Put your money in, leave it in, and eventually you’ll make 5% a year on average (hopefully closer to 10%, like the old days). As you get older, reduce risk in your portfolio. Try to game it, and you’re only going to suffer an early heart attack and die wishing you had more money, totally missing the point.

    For every internet commenter that claims they’ve made extra money playing the market, there are 50 who lost (and most of those winners have lost several fortunes already). The smart ones? They bought Apple early and often, and still hold it until it’s time to retire and move out of risk.

  5. Time and Time Again, Fake News Reporting has be used against apple without reprisal, Is there anything they can do to stop it? to get ahead of the false reports from the myriad of repeat offenders? There should be SOMETHING that can be done?

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