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Apple's stock ($AAPL) has been experiencing significant downward pressure, with indicators like Daily RSI hitting multi-year lows and price movements outside Bollinger Bands. Analysts point out key support levels around $160-$165, noting extreme oversold conditions, potentially linked to Warren Buffett's actions. The stock is considered the most oversold in years, with a $200 billion selloff. Traders are watching for potential rebounds around $170.
The last time $AAPL was trading with this low of a Daily RSI was February 2018. Also it has two candlesticks completely outside lower Bollinger Bands. Too lazy to search for the last time it has happened, but I know it's been many years. Rare territory for Steve Job's company.
Apple Looks Most Oversold In Years After $200 Billion Selloff - BBG https://t.co/aB3OmdWdp8
Apple has struggled in 2024, and the recent weakness has the stock looking like it is the most oversold in years, analysts said. https://t.co/c9KXlV5zLE