In this daily bar chart of AAPL, below, we can see three clear lower peaks in price over the past 12 months: January, March and August. Support seemed to develop around the $150 level but it was broken in May and June and it seemed to be a temporary bad dream until today. Prices have failed at the underside of the cresting 50-day and 200-day moving averages this month. A retest of $150 is likely today as the talking heads in the financial media continue to talk about the averages breaking their June lows.
The daily On-Balance-Volume (OBV) line has declined from the middle of August and the Moving Average Convergence Divergence (MACD) oscillator has crossed below the zero line for a sell signal.
In this weekly Japanese candlestick chart of AAPL, below, we can see that prices have closed below the flat 40-week moving average line – a technical sell signal. The weekly OBV line has declined since February. The MACD oscillator has crossed to the downside and could soon cross below the zero line again. The last sell signal was in May.
In this Point and Figure chart of AAPL, below, we used weekly price data plotting the average true range (ATR). Torture the data to give you the answer you want. Here the software suggests a price target in the $85 area.
Bottom line strategy: This stage of the 2022 bear market may be when shares of AAPL get bruised and turn into cider. A cautious stance is warranted.
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