$AAPL Apple Inc Stock Robo Analyst September 23 2020 #AAPL

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 111.97 suggesting the next support level is at 100.71. This weakness suggests the long-term uptrend is turning neutral.

The stock has support at 100.71 and 93.10. If the stock breaks down through support at 100.71 then it will probably continue lower to 93.10. The stock will meet resistance at 111.40 and 137.98. If the stock breaks up through resistance at 111.40 then it will probably continue higher to 137.98. The 200-day moving average is at 84.77. This will also act as support. The stock is extremely oversold according to the Stochastic Indicator (14.87), and turning up, which suggests a pause or possible rebound, especially if near support. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”