novvoll12
Short

AAPL-The sharp reversal off 110.23 range resistance points lower

NASDAQ:AAPL   Apple Inc
39 0 2
AAPL             stalled at the 110.23 resistance area (August 16, 2016 high). Subsequent sharp reversal suggests bears are back in control, looking to fill the gap and test 101.00 (July 21, 2016 high). A decisive break below the latter would confirm near-term topping and expose the key YTD low at 89.47 (May 12, 2016). Beneath lies the long-term support around 85.00 (near 7.5-year rising trendline support and 61.8% retracement of the 55.01/134.54 upswing ( April             2013 higher low/April 2015 all time high)).

If the 101.00 support area (near the 200 day moving average) manages to contain the weakness, an upside extension above the 110.23 resistance would signal channel/range breakout, turning the structure bullish . Above 110.23 would open 123.82 next.

Outlook:
Intraday: bearish
Daily: bearish
Weekly: bearish
Monthly: neutral

United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out