Market Overview

Apple Approaches Flash Crash High

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Apple Inc. (NASDAQ: AAPL) shares are trading higher by $1.43 at $120.92 in Monday's session.

Its two-day winning streak following a solid Q4 beat was interrupted by Friday's $1.03 decline from $120.53 to $119.50. After a slightly higher open, it retreated and found support ahead of Friday's close ($119.50), only reaching $119.61 before turning higher.

So far, it has reached $121.05, which is just shy of its post Flash-Crash high ($121.22) that was made in early in Friday's session. If the rally continues beyond these level, the next identifiable resistance levels may not come in until the pair of highs from July 31 ($122.64) and August 3 ($122.57).

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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