Apple: Short Term Momentum Remains Negative

 | Dec 09, 2014 06:31AM ET

Apple Inc (NASDAQ:AAPL) shares lost support offered by their 20-day moving average yesterday. This is the first time that price trades below 20-SMA since October 20. The short-term momentum remains negative as long as price is lower than $116. If the current downmove goes on, the 50-day SMA at 107-ish will be targeted.

AAPL, daily chart (3 months):