Shares of Apple Inc. fell 0.9% in premarket trade, putting it on track to trade below its 200-day moving average for the first time since July 28, 2016. The stock, which entered its first official correction in 15 months after closing Friday 10.5% below its Jan. 18 record close of $179.26, was changing hands at $159.10 ahead of the open, while the 200-day MA comes in at $159.56. The last time the stock traded below the 200-day MA, which many chart watchers view as a dividing line between longer-term uptrends and downtrends, was July 28, 2016, while the last close was July 27, 2016. Apple’s stock has lost 7.0% over the past three months, while the Dow Jones Industrial Average has gained 8.4%.
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From:: Stock Market News