Intra-Day Trend Analysis Reports On: (NASDAQ: AAPL), (NASDAQ: FB)
Apple Inc. (NASDAQ: AAPL), the maker of iPhones and iPad, is marginally lower in mid-day trading today. At last check, AAPL was down 0.34% to $539.37. AAPL had fallen 9% last week, which is the stock’s worst weekly performance since 2010. The sharp decline was blamed on a number of factors, including increasing competition for the company’s products.
AAPL also formed a death cross, with the stock’s 50-day moving average falling below the 200-day moving average. Technical analysts generally see the death cross as a sell signal. However, the stock made a recovery on Tuesday, gaining more than 2%.
AAPL has slipped in trading today despite reports that the technology giant is working with TV-set designers.
Facebook Inc. (NASDAQ: FB), the social network, is down sharply in mid-day trading today. At last check, FB was down 1.18% to $27.65 on volume of 20.81 million, which is a little over a fourth of the daily average volume of 72.70 million.
FB has had an excellent run over the past few weeks. In the last one month, the stock has gained more than 37%. The stock rebounded after the company’s most recent quarterly results showed that the company generated significant advertising revenue from mobile.
FB has been struggling to break through the $28 resistance level though. The stock is still trading well below its IPO price of $38.
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