Marina Lyubimova
⬤ Apple stock eased back to its 10-day exponential moving average on Friday pausing after its recent climb. AAPL ended the session at $280.70, a drop of 1.21 %, as the price touched the short term support near $279. The retreat follows multiple up days that carried the share price past a string of moving averages.
⬤ The latest push lifted Apple to about $289 before buyers stepped aside. The price now rests on the 10-day EMA, a level that has held in prior days. Volume reached 43.99 million shares, ordinary for a brief pullback.
⬤ Over a longer horizon, the trend remains up - the major moving averages lie well under the current price. With a market value near $4.23 trillion and a yearly peak at $289.63, the move looks like a mild dip rather than a change in direction. The chart shows the price sitting on the 10-day EMA, a line that often steers short term mood.
⬤ Whether Apple holds $279 will show if the rally resumes or if the share price moves sideways for a while. Traders are watching to see what follows.
Marina Lyubimova
