Apple Computer (AAPL) topped out reaching $700 in September 2012 & is now at almost half its highest price. Looking at the chart now, we’re able to see the stock has entered into a base forming zone since May 2013. Within this area the stock might slip further, stabilize and form a base or quickly reverse providing a medium term investment opportunity or maybe even do a complete reversal, this is all very unsure as of now. But what we know for sure is that this is a candidate of interest i.e. place it in your watch-list now and watch for a future opportunity to arise because the stock shows signs of entering a base formation stage.
After topping out it broke through 535.5 which was a critical support. Further the stock broke another critical support at 455 recently, hence maintaining its downward trend. Support levels if prices fall further are at 385 & a very strong support is seen at 240. Critical resistances are at 455 & 535.5, important but lighter resistances are seen at 483.5, 502 & a very strong resistance if prices rally up suddenly is seen at 590. A buying possibility has not developed yet in the stock, but it is on our watch list and might be an interesting stock to enter if and when it turns around.
Supports – 385, 240
Resistances – 455, 483.5, 502, 535.5 & 590
After topping out it broke through 535.5 which was a critical support. Further the stock broke another critical support at 455 recently, hence maintaining its downward trend. Support levels if prices fall further are at 385 & a very strong support is seen at 240. Critical resistances are at 455 & 535.5, important but lighter resistances are seen at 483.5, 502 & a very strong resistance if prices rally up suddenly is seen at 590. A buying possibility has not developed yet in the stock, but it is on our watch list and might be an interesting stock to enter if and when it turns around.
Supports – 385, 240
Resistances – 455, 483.5, 502, 535.5 & 590
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