Apple Technical Alert: $100 Now Resistance Instead Of Support
Apple Inc. (NASDAQ: AAPL) shares are trading lower by $2.72 at $97.98 in Thursday's session. It is trading lower for the sixth day in a row. Over that time period, it has fallen from its December 29 close ($108.74) to its current level.
After bottoming at $99.87 on Wednesday, Apple bulls were hoping for a temporary low near the psychologically important level of $100. However, today's low beyond that level has turned $100 as a resistance level instead of support.
This morning's rally in the issue was abruptly ended at $100.13 and the issue is over $2 from it. At this time, it just bounced off $97.67 and is attempting to re-enter the $98 handle.
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