Hello everyone, as we all know the market action discounts everything :)
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The Apple stock turned Bearish back on September 8, The value of the stock was in the 157.13 zone and dropped and hit 138.40 yesterday almost a 12% drop in a short period of time.
AAPL has an average volume of 77287300. This is a good sign as it is always nice to have a liquid stock.
It seems that the stock is trading in a Falling wedge pattern which indicates a reversal soon, (Falling wedge in a downtrend is a sign of a Bullish reversal)
the stock right now is trading at 142.00 with different technical indicators showing a bearish short-term trend but a Bullish long-term trend, It is expected that the market will turn Bullish as soon as the market breakout of the falling wedge pattern.
Possible Scenario for the market :
The stock is trending at 142.00 today, if the bearish trend continues then we will see the stock price reach the $138 level or even the $132 before breaking out of the wedge pattern, where the trend will pick up and start moving back up to the $157 zone.
Technical indicators show :
1) The market is below the 5 10 20 50 MA and EMA but still above the 100 and 200 which indicates a Bearish short-term trend but Bullish long-term trend.
2) The MACD is below the 0 line which indicates a Bearish market for now, With a negative crossover between the MACD line and the Signal line.
3) The STOCH bounced from the oversold zone which indicates a rise in price soon, and a positive crossover is happening between %K and %D.
Weekly Support & Resistance points :
support Resistance
1) 139.18 1) 146.03
2) 135.72 2) 149.42
3) 132.33 3) 152.88
Fundamental point of view :
AAPL's Return On Assets of 26.32% is amongst the best returns of the industry. AAPL outperforms 96% of its industry peers. The industry average Return On Assets is 1.78% and the stock Profit Margin of 25.00% is amongst the best returns of the industry. AAPL outperforms 96% of its industry peers. The industry average Profit Margin is 3.14%.
It's always good to know that the Altman-Z score of 7.43 indicates shows that AAPL is not in any danger of bankruptcy at the moment.
Apple stock weighs around 6.1% in the S&P 500 index, so it is important for the whole broad stock market picture. Since early September it has been declining from the record high. Recently, the stock broke below the support level of around $142, marked by the previous local lows. The $142 price level is acting as a resistance level right now.
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
_________________________________Make sure to Like and Follow if you like the idea_________________________________
The Apple stock turned Bearish back on September 8, The value of the stock was in the 157.13 zone and dropped and hit 138.40 yesterday almost a 12% drop in a short period of time.
AAPL has an average volume of 77287300. This is a good sign as it is always nice to have a liquid stock.
It seems that the stock is trading in a Falling wedge pattern which indicates a reversal soon, (Falling wedge in a downtrend is a sign of a Bullish reversal)
the stock right now is trading at 142.00 with different technical indicators showing a bearish short-term trend but a Bullish long-term trend, It is expected that the market will turn Bullish as soon as the market breakout of the falling wedge pattern.
Possible Scenario for the market :
The stock is trending at 142.00 today, if the bearish trend continues then we will see the stock price reach the $138 level or even the $132 before breaking out of the wedge pattern, where the trend will pick up and start moving back up to the $157 zone.
Technical indicators show :
1) The market is below the 5 10 20 50 MA and EMA but still above the 100 and 200 which indicates a Bearish short-term trend but Bullish long-term trend.
2) The MACD is below the 0 line which indicates a Bearish market for now, With a negative crossover between the MACD line and the Signal line.
3) The STOCH bounced from the oversold zone which indicates a rise in price soon, and a positive crossover is happening between %K and %D.
Weekly Support & Resistance points :
support Resistance
1) 139.18 1) 146.03
2) 135.72 2) 149.42
3) 132.33 3) 152.88
Fundamental point of view :
AAPL's Return On Assets of 26.32% is amongst the best returns of the industry. AAPL outperforms 96% of its industry peers. The industry average Return On Assets is 1.78% and the stock Profit Margin of 25.00% is amongst the best returns of the industry. AAPL outperforms 96% of its industry peers. The industry average Profit Margin is 3.14%.
It's always good to know that the Altman-Z score of 7.43 indicates shows that AAPL is not in any danger of bankruptcy at the moment.
Apple stock weighs around 6.1% in the S&P 500 index, so it is important for the whole broad stock market picture. Since early September it has been declining from the record high. Recently, the stock broke below the support level of around $142, marked by the previous local lows. The $142 price level is acting as a resistance level right now.
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!