Shares of the tech titan have closed below this threshold 45 times in the past five years, typically gaining 1.2% in the five days following the dip. Some investors consider the 50-day moving average an indicator for short-term uptrends and downtrends. Apple stock last dipped beneath its 50-day moving average in July.
But Apple shares remain well above their 200-day moving average, which is considered a longer-term indicator. July 2016 was the last time Apple stock traded below that threshold.
Apple's relative strength index indicates that it is neither overbought nor oversold, but the moving average convergence divergence (MACD) indicates a downward trend, Bloomberg data showed.
Apple stock finished trading down 1.68% Wednesday to $156.07 as concerns over connectivity issues with its new Apple Watch Series 3 and substantially lower iPhone 8 orders came to light. Shares were down 1.26% in mid-afternoon trading on Thursday, Sept. 21.
Apple Shows Off the New Apple Watch Series 3
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