Apple’s stock has fallen far enough and for long enough to produce the ominous-sounding “death cross” bearish chart pattern that AAPL last marked in December 2018.
The stock has fallen far enough and for long enough to put its 50-day moving average (DMA), which many chart watchers view as a short-term trend tracker, on track to cross below its 200-day moving average (DMA), which is viewed as a dividing line between longer-term uptrends and downtrends, as early as Friday.
That crossover, which is referred to as a “death cross,” is seen by some technicians as marking the spot that a shorter-term selloff graduates to a longer-term downtrend.
Apple’s 50-DMA fell to $159.573 on Thursday from $159.939 on Wednesday, according to FactSet data, and has declined by an average of 30 cents over the past 20 sessions, while the 200-DMA inched up to $159.489 from $159.487. At that pace of DMA changes, the death cross should appear on Friday…
Apple’s last death cross appeared on Dec. 20, 2018, after the stock had tumbled 32.4% from a then-record $58.02 on Oct. 3, 2018. The stock fell another 9.3% before bottoming on Jan. 3, 2019 at a 21-month low of $35.55, which was 38.7% below its record.
MacDailyNews Take: Whatever spooks the weakhearted enough to sell low is fine with us, (with those managing Apple’s buybacks, and, very likely, Warren Buffett).
It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price. – Warren Buffett
MacDailyNews Note: Apple’s all-time high was set on January 4, 2022 at $182.94.
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Not going to brag and name any numbers and its not over yet, but have to mention that I added significantly to my many years long position early last week and feel good. Change my mind 🙂
Joe Biden is a death cross for the entire economy. There is no escaping the pain he is bringing to the lower class currently, and it won’t be long before the middle class starts feeling it too.
AAPL is getting absolutely bent over and raped by the market now. Wholesale relentless liquidation of industry wide positions is now underway. 30 million shares traded in just the first hour represents record selling. 30 million shares in just 60 minutes. Investors are stampeding to the exits.
The market is punishing Apple relentlessly this year. Anyone who has bought AAPL in the past year is now massively underwater. The options market is betting on huge losses still to come, with even money now showing a good minus 15-20% more losses to come. The short sellers will take notice of this and begin making money off of Apple’s feckless stock, driving it down even more.
But hey! It’s all OK! The Tim Cook knob slobbing sycophants can buy more imaginary shares. LMAO!
FIRE Tim Cook!
Tim Cook and apple shares are different topics. Agreed, cook is a loser and needs to be replaced.
Short sellers are about to get ass r***d. apple pe is moronically low and when next quarter results hit with another YoY increase, the shorters balls are going to get kicked so hard they’ll replace their eyeballs with them. Ball face manipulators will have the appropriate look to match what they are.
Fire Tim Cook? What was selling for when he took over the company and how much was paid in dividends since then.
Now what will Apple be announcing at WWDC on Monday, and what are the chances that the shares will increase in value when the Market figures out what the impact should be.
Old Tim has done a damn good job, just like Jobs thought he would. I’m always amazed at folks complaining about Tim. dGuess they know more than Steve Jobs.