Apple Event Fails To Impress Bulls: Why Apple Stock Is Now In Bearish Slide
Portfolio Pulse from Piero Cingari
Apple Inc.'s (NASDAQ:AAPL) Wanderlust Event 2023 failed to impress investors, leading to a 2.3% decline in the company's stock during the trading session on Tuesday, Sept. 12. The stock's decline intensified during the event, suggesting the market didn't initially warm up to Apple's new product offerings. The share price found support at $174.8, the day’s low, which coincided with the moment Apple revealed the pricing for the new iPhone 15 Pro. The short-term trend remains bearish, with the 21-day moving average trading below the 50-day moving average.
September 12, 2023 | 9:03 pm
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Apple's stock declined by 2.3% following the Wanderlust Event 2023. The short-term trend for the stock remains bearish.
The decline in Apple's stock price is directly linked to the company's Wanderlust Event 2023, which failed to impress investors. The bearish short-term trend is indicated by the 21-day moving average trading below the 50-day moving average.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100