Apple pares losses - Analysis - 29-09-2022

Apple's stock (AAPL) hit a session-low at 144.84, bouncing off it higher and trimming the losses to 1.27%, or 1.92 points, and settling at 149.84, with trading volumes surpassing 146.6 million shares, above 10-day averages of 105 million shares, after news the company will abandon plans to increase iPhone production as demand stalled. 

Technically, the stock is hurt by negative pressure from the 50-day SMA, coupled with negative signals from the RSI, while hurt by piercing the upward short-term trend line recently. 

Therefore we expect more losses for the stock, targeting the support of 142.12, provided the pivotal support of 150.10 was breached. 

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Expected trend for today: Bearish