Wednesday, 20 January 2016

AAPL - offering a short term floor

Whilst equities closed very mixed, there was notable fractional strength in Apple (AAPL), which settled +0.1% @ $96.70, having rallied from an intra low of 93.42. If the broader market can stabilise from sp'1812, AAPL has viable upside to at least the 105/107 zone.. where the 50dma will be lurking for earnings.

AAPL, daily

AAPL, monthly


Suffice to add, despite another rough day in market land, AAPL was one of the stocks that is arguably warning that a short term floor is close.. or has been achieved.

Regardless of any short term bounce into Feb/March, there remains viable downside below the Aug'2015 low of $92.00, to the 85/75 zone, and that would equate to sp'1600/1500s.