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Thursday
Jun162011

Apple (AAPL) Closes Below Its 200-DMA for the First Time in 551 Days

Apple (AAPL) is probably the most widely followed individual stock in the US, so it's important anytime it experiences a bullish or bearish technical signal.  Unfortunately, today the stock's technicals took a major turn for the worse since it closed below its 200-day moving average.  When a stock is above its 200-day, it is thought to be in a long-term uptrend, and it is thought to be in a long-term downtrend when it is below its 200-day.

In Apple's case, it has spent the better part of the last 10 years above its 200-day moving average, and today marked the end of a 551-day run of consecutive closes above its 200-day.  The last time Apple closed below its 200-day was on April 8th, 2009.  The 551-day streak of closes above the 200-day was the second longest such streak for Apple in its history.  The longest streak of closes above its 200-day came in the mid-2000s when it did so for 769 days.

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