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Apple Technical Analysis - Apple Trading: 2023-08-04
Apple Technical Analysis Summary
Below 190.72
Sell Stop
Above 196.60
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
Apple Chart Analysis
Apple Technical Analysis
The technical analysis of the Apple stock price chart on daily timeframe shows #S-AAPL,Daily is retracing down toward the 200-day moving average MA(200) after hitting three-year high three weeks ago. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 190.72. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the fractal high at 196.60. 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 (196.60) without reaching the order (190.72), 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 declined despite its Q3 earnings beat. Will the Apple stock price continue retreating?
Apple beat Wall Street's estimate for its fiscal third quarter earnings. The iPhone maker earned $1.26 a share against analysts expectations of earnings of $1.20 a share according to FactSet. On a year-over-year basis, earnings increased 5%. However, while sales of $81.8 billion for the quarter ended July 1 matched analysts’ expectations, it dropped 1% on annual basis. Revenues declined the third straight quarter. Apple's hardware sales fell 4.4% year over year to $60.58 billion as sales for iPhone, Mac computers and iPad tablets declined: iPhone revenue declined 2% to $39.67 billion and accounted for 48% of the company's total sales whereas Apple's Mac computer sales fell 7% to $6.84 billion and iPad tablet sales dropped nearly 20% to $5.79 billion. Hardware revenue declines were somewhat offset by revenue from Apple's wearables, home and accessories unit which rose 2% to $8.28 billion. Continued decline in iPhone sales is bearish for Apple stock. At the same time the company expects “September quarter year-over-year revenue performance to be similar to the June quarter, assuming that the macroeconomic outlook doesn't worsen.”
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