Shares of Apple Inc. fell 2.5% to $122.77 on Wednesday, to close below the widely watched 200-day moving average (DMA) for the first time in 13 months. The 200-DMA is viewed by many chart watchers as a dividing line between uptrends and downtrends. Apple’s 200-DMA extended to $122.96 on Wednesday, up from $122.82 on Tuesday, according to FactSet data. The last time the technology giant’s stock closed below its 200-DMA was April 3, 2020, to end a 15-day period in which the stock closed below the 200-DMA 11 times. After the first close below the 200-DMA on March 16, 2020, the stock fell another 7.3% to bottom out at a 6-month closing low of $56.09 on March 23, which was 31% below the record close at the time of $81.80 on Feb. 12, 2020. On Wednesday, the stock is 14.2% below the Jan. 26, 2021 record close of $143.16. Meanwhile, the Nasdaq Composite closed at 13,031.68 and the Dow Jones Industrial Average ended at 33,587.07, both well above their respective 200-DMAs at 12,451.78 and 30,215.15.
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