novvoll12
Short

aapl:The 100.73 resistance could cap bounces near term

NASDAQ:AAPL   APPLE INC
129 0 4
6-19-2016

AAPL             @ 95.33 - bearish – The 100.73 resistance could cap bounces near term

AAPL             stalled at the 100.73 resistance area (May 23, 2016 weekly high). Subsequent decline suggests bears are back in control. It is likely to see a retest of the 89.47 prior key low (May 9, 2016 YTD low). Further weakness below the latter would open the long-term support zone between 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)), and then 74.00 (near 73.88, April             14, 2014 range low, and 76.4% of the 55.01/134.54 upswing).
If the stock is able to retake the 100.73 level decisively, that would stabilize the structure and extend the price action towards 107.69 (50-week moving average) near the falling channel upper bounds. A clean breakout there is needed to turn bullish on the stock.

Outlook:
Intraday: bearish
Daily: bearish
Weekly: bearish
Monthly: neutral
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out