Why Apple Stock Will Bounce Despite Bear Cycle

Why Apple Stock Will Bounce Despite Bear Cycle
The apple logo is projected on a screen before the start of a product launch event at Apple's headquarters in Cupertino, Calif., on Sept. 10, 2019. Josh Edelson/AFP via Getty Images
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Apple Inc. gapped down about 2.4 percent to start Thursday’s trading session and within the first few minutes had fallen 4 percent off Wednesday’s closing price.

The general markets turned heavily bearish at the end of March, which technical traders may have predicted a few weeks earlier when the 50-day simple moving average (SMA) crossed below the 200-day SMA on the S&P 500, which created a death cross on the daily chart.