- Apple, Inc. stock has given a return of -5.80% in the last three months.
- The quarterly profit margin of the Apple stock is decreasing.
- The technical summary tool is showing a sell signal on AAPL stock.
Apple Inc. (NASDAQ: AAPL) is currently falling after hitting an all-time high. The price is forming a pattern of lower lows and is reversing from the resistance levels.
AAPL stock is currently priced at $174.79, with a share float of $15.6 billion. The quarterly profit margin percentage for AAPL has been declining, along with decreasing net income and revenue. This falling revenue indicates that the company’s financials are weak and performing poorly.
In July 2023, AAPL stock reached its peak at $198.23 but subsequently entered a downtrend. By mid-August 2023, the stock had experienced a decline of more than 20% and found support around $191.9. However, the stock’s attempt to reverse this trend proved unsuccessful.
Presently, AAPL stock is trading near a crucial support level. A break below this level could indicate further potential downward movement in the coming days.
The technical summary widget indicates that, out of the total 26 indicators, 3 give a sell signal, and only 4 show a buying signal in the daily timeframe.
Apple, Inc. (AAPL) Stock Price Analysis
AAPL by writer50_tcr on TradingView.com
The recent price movement of AAPL stock has resulted in it slipping below both the 100-day and 200-day exponential moving average (EMA) levels. This is often interpreted as a bearish signal.
Furthermore, the relative strength index (RSI) line is currently hovering around the 35 level, positioned below the simple moving average (SMA) line. This configuration indicates a negative crossover. It suggests the emergence of a bearish pattern in the stock price. Consequently, there is a potential for future price declines.
Additionally, the MACD line has experienced a crossover below the signal line, leading to the formation of a red histogram. Both of these lines are also situated below the zero line. Taken together, these observations suggest a negative trend in the stock price, further indicating a price fall.
Conclusion
According to the analysis, Apple, Inc. stock is presently exhibiting a bearish trend. The price is situated below the EMA levels, and the MACD indicator shows a red histogram. This indicates a lack of strength in the stock. The current pattern suggests a downward trajectory in the price, with an expectation of further declines until it reaches the nearest support level.
Technical Levels:
· Support Level– $208
· Resistance Level- $257
Disclaimer
The views and opinions of the author or anyone in this article are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.