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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 generally implies it is in a positive trend. However, the stock has recently broken down through an important fibonacci fan trendline at 110.59 suggesting the next support level is at 99.96. This weakness suggests the long-term uptrend is turning neutral.
The stock has support at 99.96 and 93.10. If the stock breaks down through support at 99.96 then it will probably continue lower to 93.10. The stock will meet resistance at 110.58 and 137.98. If the stock breaks up through resistance at 110.58 then it will probably continue higher to 137.98. The 200-day moving average is at 84.11. This will also act as support. The stock is extremely oversold according to the Stochastic Indicator (12.42).”
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