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Apple Inc (AAPL) “On a long-term technical basis, the stock (AAPL) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 272.79 suggesting the next level of support is 260.40. The long-term uptrend has now turned neutral.
The stock has support at 260.40 and 226.42. If the stock breaks down through support at 260.40 then it will probably continue lower to 226.42. The stock will meet resistance at 268.00 and 282.09. If the stock breaks up through resistance at 268.00 then it will probably continue higher to 282.09. The 200-day moving average is at 252.36. This will also act as support. If the stock closes below 248.60 a negative trend change is probable. Look for the stock to fall to the level where it started prior to the latest big upmove. The stock is slightly overbought according to the Stochastic Indicator (69.25).”
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