Here is why Technicals Are a BEAR on Apple Inc. (AAPL)

Apple Inc. (NASDAQ:AAPL) fell by -0.35% in Thursday’s trading session from $156.55 to $156.00 The stock price went upward in 6 of the last 10 days and has generated 1.77% during the last two weeks. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -0.61 million shares and in total 16.10 M shares exchanged hands for about $2 511.07 million.

Inside AAPL’s Recent Trend

Apple Inc. (AAPL) lies in the middle of a weak rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 2.67% over the course of a quarter and, with 90% chance the price will be floating in the range of $155.49 and $170.37 in this timeframe.

Apple Inc. Technical Signals

AAPL is a buy based on short-term MA; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On additional rally, the share price will meet long term resistance at around $157.71. On a drop, the stock is likely to find some support over the short run, which begins at $155.49. A buy signal will be generated if it crosses above the long term moving average. Meanwhile, a price down versus the short-term MA will be a fresh sales call. Its pivot point high generated sell signal on Wednesday October 11, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

Apple Inc. (NASDAQ:AAPL) Support And Resistance Levels

Apple Inc. (AAPL) recorded volume accumulation so there will probably be a surplus of buyers at $155.32. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $156.07, $157.14 and $160.86.

Accumulated volume is going to prevent the price from rising further at $156.07 and this action will lead the price to take a temporary pause or stay muted for a few days.

Apple Inc. (AAPL) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $1.64 (1.05%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 1.02%.

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