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Apple Inc (APPL) “On a long-term technical basis, the stock (AAPL) is trading above its 200-day moving average which generally implies it is in a positive trend. However, the stock has recently broken down through an important fibonacci fan trendline at 117.04 suggesting the next support level is at 104.81. This weakness suggests the long-term uptrend is turning neutral.
The stock has support at 104.81 and 93.10. If the stock breaks down through support at 104.81 then it will probably continue lower to 93.10. The stock will meet resistance at 115.46 and 137.98. If the stock breaks up through resistance at 115.46 then it will probably continue higher to 137.98. The 200-day moving average is at 87.26. This will also act as support. The stock is slightly overbought according to the Stochastic Indicator (66.53).”
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