Why You Should Be Paying Attention To Apple’s Stock Chart By Scalper1 | February 24, 2016 0 Comment Scalper1 News alt : http://feedproxy.google.com/~r/InternetTechnologyRss/~5/JV1eCRme1Vg/Tech_022416_AAPL_FIT_FB_MSFT_AMZN_sd.mp4http://feedproxy.google.com/~r/InternetTechnologyRss/~5/JV1eCRme1Vg/Tech_022416_AAPL_FIT_FB_MSFT_AMZN_sd.mp4 Loading the player… With the market down for a second day in a row, Apple ( AAPL ) shares have come close to a recent low. The consumer tech giant has been stuck in a downtrend for months as analysts have slashed their iPhone sales forecasts for 2016. Shares fell as much as 1.4% to 93.33 Wednesday morning. That’s within $1 of its Jan. 28 low of 92.39, and not much further from its Aug. 24 low of 92. Volume was tracking lighter than average. The stock was able to erase its losses and was trading a fraction higher by the afternoon in the stock market today . Apple is trading about 30% below its all-time high reached last April. On Tuesday, market research firm IDC said Apple Watch shipments slowed in the fourth quarter, with Fitbit ( FIT ) shipping nearly double the amount of wearable devices as Apple in the same time. But Fitbit issued weak first-quarter guidance late Monday, as it’s discontinuing one model and adding two more beginning in March. Apple will hold its spring product meeting next month, where a second-generation Apple Watch could be revealed. Elsewhere in the tech space, Facebook ( FB ) tested support at its 50-day moving average, down 0.6% Wednesday. Facebook, a top-rated stock, is trading 11% below its all-time high reached earlier this month. Facebook said its Instagram ad milestone , with its video- and photo-sharing service, hit 200,000 advertisers. Amazon dropped 2.3%, falling back below its 200-day line in intraday trade just two sessions after retaking that level. Amazon is trading about 22% below its high and a potential buy point. Microsoft is trading about 10% below a buy point, off 0.7% Wednesday. Microsoft shares neared the 50-day line on Monday but found some resistance there. Scalper1 News Scalper1 News Related posts: Tesla Stock Continues To Lose Spark, Tumbles To 2-Year Low Nvidia Retakes Critical Level As Stock Spikes On Earnings Apple Pay Launching In China As U.S. Adoption Stalls This FANG Stock Just Tripped A Very Bearish Signal