AAPL broke down below the key support cluster including 121.63 6-month range low (March 12, 2015), 200 day moving average currently 120.85 and 119.23 (July 9, 2015 swing low), confirming topping and triggering further weakness towards 116.10 (near 61.8% of the 104.63/134.54 rise) ahead of 111.72 (76.4%x) which is close to the range target at 110.26 (as shown on the daily chart). The 121.99/123.91 resistance zone should cap near term bounces.
Outlook:
Short term: bearish
Long term: bearish
Outlook:
Short term: bearish
Long term: bearish
