Apple Stock Breaking Below Key Support – Dec 17, 2014

Apple Stock Breaking Below Key Support - Dec 17, 2014

Apple Stock Breaking Below Key Support - Dec 17, 2014

Apple stock could be in for more losses, as the price has recently closed below the key support at the 50 simple moving average on the daily chart. At the moment, Apple stock is trading above the $105/share psychological level, which might hold as support.

MACD is still reflecting strong selling pressure though, as the indicator continues to move down. RSI has already reached the oversold region, which means that the selloff could turn soon, but has yet to cross up from the area and reflect a return in bullish momentum.

Apple Stock Outlook

The return of risk aversion and the prospect of Fed interest rate hikes have been weighing on US equities, including Apple stock, for the past few days. After all, geopolitical tension has been on the rise and traders are focusing once more on how these conflicts might weigh on global growth.

Apart from that, the upcoming FOMC statement could have an impact on Apple stock today, as the Fed is slated to share its bias on monetary policy changes for next year. Any indication that the US central bank is gearing up to tighten policy by hiking rates could be received negatively by US equities, as this would mean more expensive business investment and tighter credit.

On the other hand, a cautious FOMC statement could allow equities to rebound, as it had done so in the previous announcement. The promise of keeping rates low for a “considerable time” even after easing has ended could work better for businesses, as it would ensure that economic support would stay in place as conditions continue to improve.

Apart from that, the Santa Claus rally which typically takes place at the end of the year until early next year might lead to more gains for Apple stock. The price could find support at the $105/share level or until the $100/share area of interest.

To contact the reporter of the story: Jonathan Millet at

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Jonathan Millet is currently the proud CEO of, the brand new financial news portal which is making waves among Forex traders around the globe for the innumerable Forex resources it offers. He also holds the position of Binary Options Consultant at Before was around, Jonathan was a successful Forex dealer and chief market analyst at Forexyard. He has also worked as a Forex trader. His other specialties include advising financial companies of how to stay head of the competition.