It’s been a rough couple of weeks for Apple (AAPL) and its shareholders. As shown in our trading range chart of the stock below, AAPL is now trading in extreme oversold territory at more than two standard deviations below its 50-day moving average (bottom of green shading). As recently as three weeks ago, the stock was trying to break above it’s 10-month downtrend channel and was actually at extreme overbought levels. That shows just how quickly sentiment has soured for the largest company in the world.
Things have gotten so bad recently that the stock can’t even manage one up day. If the stock closes lower today, it will mark its 8th consecutive down day. That hasn’t happened since 1998!
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