Apple Inc.'s stock's 200-day moving average is ticking lower in afternoon trade Friday, for the first time in 22 months. This could be significant, because many chart watchers believe bearish technical signals based on the widely-watched long-term moving average are only truly bearish if it is moving lower. For example, many say a "death cross," which is when the 50-day MA crosses below the 200-day MA, isn't a negative signal unless both moving averages are declining. Apple's 200-day MA is currently at $121.6022, according to FactSet, compared with $121.6046 on Thursday. The last time the 200-day MA starting turning lower after an extended rising trend was Dec. 13, 2012, and it didn't turn back up again until Oct. 24, 2013. With the 50-day MA currently at $122.7189, down about 41 cents from Thursday, a bearish death cross could occur by the middle of next week.
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