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 119.80 suggesting the next support level is at 117.72. This weakness suggests the long-term uptrend is turning neutral.

The stock has support at 117.72 and 107.06. If the stock breaks down through support at 117.72 then it will probably continue lower to 107.06. The stock will meet resistance at 119.80 and 137.98. If the stock breaks up through resistance at 119.80 then it will probably continue higher to 137.98. The 200-day moving average is at 88.71. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (78.92), and turning down, which suggests a pause or possible pullback, especially if near resistance. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”