Apple Stocks Bullish Pattern Detected
largest tech company by market capitalization, has been slowly declining in
recent weeks. However, this is probably not the end of the bearish trend that
has gripped the stock.
to a technical analysis by the Market Rebellion portal, the stock will face
another decline as a bearish wedge pattern has been recorded.
$AAPL – Bearish pattern active (wedge). Market Rebellion via Twitter
company’s shares break through the support line of the emerging pattern, it
will fall to the level of $113-114 per share. On the chart, analysts note that
a bearish wedge has been forming recently, which led to a drop in Apple’s price
to the current level of $115-116 per share.
crazy bull rally in the summer that propelled the company to its
second-in-history to hit a 2 trillion market cap, the market has not been
overly supportive of the tech giant. Apple became one of the flagships of the
September correction, having lost more than 16% in a few weeks relative to its
all-time high price.
September Was the Worst Month Ever for Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), Facebook (FB) and Alphabet (GOOGL)
The largest companies spearheaded the fall in the S&P 500, losing 8% to 16% of their market cap in less than a month.
Apple’s Slow Decline after IPhone 12 Presentation
analysts are looking favorably on the long-term prospects for the company,
given the release of the iPhone 12, the first smartphone to use innovative 5G
technology. The next week is important for the company due to the publication
of quarterly reports, which will take place on October 29.
Apple’s (AAPL) Smartphones Are not the Most Popular in the World, despite Apple Being the Only Tech Company with $2 Trillion Market Cap
The US tech giant is falling behind Asian competitors in the smartphone segment.