Apple Holds Key Support at $330

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)

This entry was posted in Apple and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.