Apple (AAPL) Weakness Continues: Here Are The Important Levels

Apple Inc. (NASDAQ:AAPL) is trading at $427.58, -4.14 (-0.96%). This is again happening on a day when the markets are up and the S&P 500 has hit a new multi year high. So what does this mean?

Apple continues to show relative weakness. This tells us if the markets ever drop, Apple will take a beating. The one saving grace for Apple is the $419.00 level. This level is holding from a week ago and represents a major gap fill on the daily chart. As a technical level, as long as that level holds, the stock has some chance of moving higher and bouncing. However, any break of that level, this stock will take another beating until it is below $400.00.

Lastly, if Apple is able to break out of the current range, taking out $436.00, it will technically be free to run up to $455.00 then $485.00.

About Gareth Soloway 168 Articles

Affiliation: InTheMoneyStocks.com

Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial independence, he continued to study the day trading and swing trading world, developing a unique market philosophy and proprietary methods. Following his work in the financial sector, Gareth went on to trade alongside professional traders. Unable to tolerate the hype of Wall Street any longer and having an amazing ability to profit using his developed techniques, Gareth Soloway decided to partner with his friend and colleague, Nicholas Santiago to form InTheMoneyStocks.com. Chief Market Strategist Gareth Soloway serves as the president and CFO of InTheMoneyStocks.Com.

Visit: InTheMoneyStocks

Be the first to comment

Leave a Reply

Your email address will not be published.


*