Apple Trying to Bottom

Apple looks like it’s trying to bottom.  It’s been choppy and has difficulty holding a bid.  Friday’s low at $533.72 is a must hold.  The stock remains extremely oversold with a 27 RSI, but needs a catalyst to move it higher, in our opinion.

(click here if chart is not observable)

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

3 Responses to Apple Trying to Bottom

  1. I’m not sure if it’s trying to bottom or if it is simply consolidating before the next leg down. It just doesn’t look like a healthy bottom to me.

  2. The fact that it didn’t break down this afternoon with the rest of the market suggests that you’re correct. Good call.

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