Apple, Cisco And Microsoft Charts Shift To Negative

By Richard Suttmeier of Forbes

Saturday, July 4, 2015 11:17 AM EST

The Dow Jones Industrial Average ended last week on June 26 with a close of 17,946.68, just below its 50-day simple moving average of 18,033.79 which still indicates risk to its 200-day simple moving average of 17,674.73.

Four of the tech stocks in the Dow are also components of the Nasdaq Composite, which set an all-time intraday high of 5,164.36 on June 24, while the Dow remains below its all-time intraday high of 18,351.36 set on May 19.

The weekly chart for the Dow 30 shifted to negative from neutral with the index just below its five-week modified moving average of 17,990.96. The Dow ended the week with its 12x3x3 weekly slow stochastic reading declining to 53.52 down from 56.92 on June 19. The Dow 30 is up just 0.7% year-to-date and is 2.2% below its all-time high.

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DOW300626

Here are the weekly charts for the five Dow tech stocks Courtesy of MetaStock Xenith

Apple (AAPL) -0.12% closed at $126.79 on Friday down 1.6% year-to-date and set its all-time intraday high of $134.54 on April 28. The stock is below its 50-day simple moving average of $128.44 and above its 200-day simple moving averages of $117.78.

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AAPLF

Apple’s weekly chart shifted to negative at Friday’s close with the stock below its five-week modified moving average of $127.69 with a 12x3x3 weekly slow stochastic reading of 47.17 down from 54.22 on June 19.

My annual value level is $110.43 with a weekly pivot of $126.87.

Cisco Systems (CSCO) -0.07% had a close of $28.30 on Friday up 1.8% year-to-date and set a multiyear intraday high of $30.31 on March 2. The stock is below its 50-day simple moving average of $28.94 and above its 200-day simple moving average of $27.36.

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CSCOF

Cisco’s weekly chart shifted to negative at Friday’s close with the stock below its five-week modified moving average of $28.73 with a 12x3x3 weekly slow stochastic reading of 64.50 down from 67.22 on June 19.

My annual value level is $17.85 with a weekly risky level of $29.33.

IBM (IBM) +0.36% closed at $165.46, up 3.1% year-to-date after setting a multiyear intraday high of $215.82 during the week of March 22, 2013. IBM is below its 50-day and 200-day simple moving averages of $169.67 and $166.39, respectively.

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IBMF

The weekly chart has been negative since the week ending June 5 with the stock below its five-week modified moving average of $167.46 with a 12x3x3 weekly slow stochastic reading of 58.44 down from 65.26 on June 19.

I do not show a value level with a weekly risky level of $170.19.

Intel (INTC) +1.24% closed at $31.02 on Friday, down 14.5% year-to-date after setting a multiyear intraday high of $37.90 on Dec. 5. The stock is under a death cross where its 50-day simple moving average of $32.57 is below its 200-day simple moving average of $33.73.

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INTCF

Intel’s weekly chart has been negative since the week ending June 12 with the stock below its five-week modified moving average of $32.19 with a 12x3x3 weekly slow stochastic reading of 48.20 down from 57.65 on June 19.

My annual value level is $30.01 with a weekly risky level of $33.35.

Microsoft (MSFT) -0.18% had a close of $45.26 on Friday, down 2.6% year-to-date after setting a multiyear intraday high of $50.05 on Nov.14. The stock is below its 50-day and 200-day simple moving averages of $46.59 and $45.50, respectively.

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MSFTF

Microsoft’s weekly chart shifted to negative at Friday’s close with the stock below its five-week modified moving average of $45.93 with a 12x3x3 weekly slow stochastic reading of 65.05 down from 67.60 on June 19.

Disclosure: I do not hold positions in Apple, Cisco, IBM, Intel or Microsoft.

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