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Apple, Inc. Technical Analysis Update: Is the Negative Price Momentum Over?
Apple’s price has recovered from its recent lows, and the stock showed surprising strength in a down market Friday, popping back up to $475. As the chart shows, however, Apple’s overall trend remains lower.
The MACD remains stuck in strong negative territory, and Apple’s price is still $30 below its 50-day moving average. The technicals are still not siganling buy. Fallen tech growth stars don’t usually have profitable second acts as value stocks. Apple has been both a unique company and a unique stock over the years, but without Steve Jobs, it seems that even Apple can revert to the mean — financially and operationally.
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