By Jeff Pierce
AAPL is at a sink or swim juncture. It’s strong summer rally saw it stall at significant resistance, however the RSI pushed into very bullish territory that it just may continue on it’s bullish ways. If it indeed has broken it’s year long funk then the 40 level on the RSI should provide the support it needs here as well as the support turned from resistance seen on the chart below. My analysis sees the $461 level as very strong support for this stock however any weekly close below that level would be very bad. Tomorrow is an important day because it’s the last day of the week and if it has a strong sell off next week could see this stock fall further.
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