Simple Trading AAPL 17 May 2016

AAPL W 17 May 2016

 

Current Trend (W): Down

Abv/Below Value Zone: Below

Next Scheduled Report Date: 19 July 2016

52 Week High: $132.97

52 Week Low: $89.47

Current Relevant Resistance: $113.00

Current Relevant Support: $90.00
Recent Close: $93.49

Comment: Seems I just posted a note about AAPL… Following high profile exits from notable hedgies and despite Warren Buffett wading into the fray on the buy side and a Lion of an upgrade to be announced tomorrow, AAPL looks to be in trouble here on the weekly chart.  The horizontal channel shown is resistance all the way up to $101ish.  If we break $90 to the downside the stock (and the Sage of Omaha) could be in for quite a ride.  That said, if the stock somehow manages to make it all the way back up to the top of this channel at that $101 level, buyers have a chance… but not much of one.

 

 

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