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Asset Watch
Thursday, September 14, 2023
With faster chips, “incredible image quality,” and higher prices as part of the festivities, the revamped offering should help boost revenue during the Christmas rush in Q4.
Significant support levels should limit the future downside. Apple’s 150-day and 200-day moving averages acted as resistance during the rally attempts in late 2022. The stock also found support in this area during the early 2023 pullback.
As the 150-day MA nears $173, the level may stop the recent swoon. However, if this doesn’t happen and weak S&P 500 seasonality hurts Apple, the 200-day MA could near $164, marking the end of the downtrend.
Will you be a buyer if the correction continues, or will Apple’s struggles persist in the months ahead?
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