The Charts Are Cooking Up an ‘Apple’ Turnover

In this daily bar chart of AAPL, below, I can see that the price of AAPL is now back below the declining 200-day moving average line. (A number of bullish analysts, both technical and fundamental, have pointed out the number of stocks that are trading above their 200-day moving average lines. Here is one leadership stock that has reversed direction.) The daily On-Balance-Volume (OBV) line looks like it has made a top in February. The Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside for a take-profit sell signal. 

 

In this weekly Japanese candlestick chart of AAPL, below, I can see that some recent candle patterns show upper shadows. Upper shadows are a sign that traders are rejecting the highs and a warning sign that prices could retreat. The weekly OBV line shows a decline from February 2022. The MACD oscillator is below the zero-line, but showing a cover-shorts buy signal. 

  

In this daily Point and Figure chart of AAPL, below, I can see a downside price target in the $137 area. 

In this weekly Point and Figure chart of AAPL, below, a price target of $137 is also shown.  

Bottom line strategy: Shares  of AAPL are turning lower. A pullback to the $137 area is possible, but the early January low is the real chart point to watch.