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Apple Inc (AAPL) “On a long-term technical basis, the stock (AAPL) is trading below its 200-day moving average which implies it is in a negative trend. However, the stock has broken through an important trendline at 265.20 suggesting the next level of support is 242.79. The long-term uptrend has now turned neutral.
The stock has support at 242.79 and 226.42. If the stock breaks down through support at 242.79 then it will probably continue lower to 226.42. The stock will meet resistance at 247.85 and 260.40. If the stock breaks up through resistance at 247.85 then it will probably continue higher to 260.40. The 200-day moving average is at 247.85. This will also act as resistance. If the stock closes below 242.79 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 extremely oversold according to the Stochastic Indicator (19.66).”
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