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Apple Technical Analysis - Apple Trading: 2024-02-29
Apple Technical Analysis Summary
Below 179.09
Sell Stop
Above 183.47
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
Apple Chart Analysis
Apple Technical Analysis
The technical analysis of the Apple stock price chart on 4-hour timeframe shows #S-AAP,H4 is retracing down to test the support of a descending triangle after testing the 200-period moving average MA(200). We believe the bearish momentum will continue after the price breaches below the support of the descending triangle at 179.09. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 183.47. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (183.47) without reaching the order (179.09), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Apple
Apple share price climbed amid reports the company canceled its electrical vehicle (EV) project. Will the Apple stock price continue retreating?
Apple shares rose 0.8% on the day outperforming market after a Bloomberg report that the tech giant cancelled its electric vehicle research and is repurposing funds instead to artificial intelligence. The move away from funding EV research follows similar pattern by several major carmakers as they pull back on investments and slash prices after recent disappointing EV sales. While EV sales are in downturn globally, investments in artificial intelligence are rising and Apple employees working on the EV project known as "Project Titan" will be moved to the company's artificial intelligence division. A shift to investing into an expanding industry is bullish for a company stock price. However, the current setup is bearish for the Apple stock price.
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