AAPL - failing at the 50 day MA

Apple (AAPL) is having difficulty breaking above the declining 50 day MA. AAPL closed the day -1.2% @ $542. Today's red candle confirms the black (fail) candle from Wednesday. First downside target is around $530/25


AAPL, daily

Summary

Many have recognised the 50 day MA as an important level for AAPL to close above. Despite the market soaring almost 5% in just 3 trading days, AAPL is still stuck in the 540s.

Today's close is certainly  nothing dramatic, but it does confirm yesterdays little sign of weakness (as black candles often are).

*If the indexes retrace back to sp'1440/35, then AAPL looks set to hit 530 or so.

Considering the weekly/monthly charts...I'd guess we battle back higher from there.