You should know by now that we believe Apple is the Five Star General of this bull market and have watching the poor action after the stock made a closing high of $360 on March 4th. It held key support today around $330 for the third time this correction and finished up a couple bucks on some positive earnings talk.
This is an ugly chart and the stock has a lot of work to do to repair the recent technical damage. On the positive side, however, it is setting up for a decent move on a positive earnings surprise. Stay tuned.
Key Support Levels
330.01 – March 16 Closing Low (tested and held three times)
326.26 – March 16 Intraday Low
313.50 – .382 Fib Retracement of the Aug-Feb 53.5% rally
306.04 – 200-day Moving Average
(click here if chart is not observable)