• April 2, 2023

How Retail Got Real At Metaverse Fashion Week With AI, AR, Interoperability, Phygital Components

For Metaverse Fashion Week’s second iteration, Decentraland foundation partnered with additional metaverses Spatial and Over the Reality making for a broader experience and participating brands both harnessed emerging technologies and solidified …

Tesla Electric Semi Recalled After Just A Few Months On The Road

Tesla’s electric Semi trucks are being recalled over a faulty electronic parking brake, according to a notice posted online by the NHSTA. The recall comes after Tesla made its first deliveries …

How To Ruin Your Kids With A Lousy Estate Plan

Introduction Estate planning is primarily about the transmission of wealth. However, it should be about much more. Many people don’t want to delve into family skeletons or tackle emotionally charged issues. …

Shares of Apple

failed to hold its 200-day simple moving average at $159.70 on May 5. The downside risk is to its annual value level at $141.26. Blocking the upside is its semiannual pivot at $163.16. The weekly chart has been negative since the week of April 22 as a major warning.

Apple is not cheap. Its p/e ratio is 25.53% with a dividend yield of just 0.58%, according to Macrotrends. The company matched earnings estimates during the quarter ended on October 28. This was a warning given the fact that Apple beat earnings estimates in every other quarter over the last 22 quarters.

The Daily Chart for Apple

Shares of Apple held its 200-day simple moving (in green) at the lower left-hand corner of the chart. The stock set its all-time intraday high of $182.94 on January 4, 2022. Note how the 200-day SMA was a magnet between February 24 and May 6 with this average now at $159.69.

If the stock stays below the 50-day and 200-day SMAs at $164.52 and $159.69, the downside risk and key level to hold is the annual value level at $141.26, which is the lowest horizontal line.

The higher two horizontal lines are the semiannual pivot at $163.16 and the monthly risky level at $173.50. If the monthly level falls below the semiannual level, a death cross will be confirmed.

The Weekly Chart for Apple

The weekly chart for Apple is negative with the stock below its five-week modified moving average at $160.04. The horizontal lines are the annual value level at $141.26 and the semiannual pivot at $163.16. The 200-week simple moving average or “reversion to the mean” is at $97.23.

The 12x3x3 weekly slow stochastic reading is declining at 35.43. The chart becomes oversold when this calculation falls below 20,00.


Leave a Reply

Your email address will not be published.