MichaelGLamothe
Long

AAPL is trading directly below long term resistance

NASDAQ:AAPL   APPLE INC
57 0 3
AAPL             has been trading below a descending trend line for nearly a year and a half, starting the week 4/27/2015. Over the past 4 months, it has rallied from the low $90s to where we are today. What is significant is not only are we finally seeing a golden cross on both the daily and weekly charts (where the 50dma crosses above the 200dma) but this is also happening during Apple's special event, providing a possible near-term catalyst.

If able is able to breakout (on both the daily and weekly chart, the current pivot is $110.23) near-term support becomes 105.50 which coincides closely with the current 10wk line. The risk from entry to exit is only 4.29%
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