(Bloomberg) -- Apple Inc. is testing a key technical indicator that it traded firmly above for all of last year. The stock fell three straight days to close a hair above its 200-day moving average of $165.52 on Friday. With cautious analyst notes increasing prior to the iPhone maker's May 1 earnings report, shares are now challenging near-term support at about $165, a level it successfully bounced off of a few weeks ago.
To contact the reporter on this story: Arie Shapira in New York at ashapira3@bloomberg.net.
To contact the editor responsible for this story: Sophie Caronello at scaronello@bloomberg.net.
©2018 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
