Apple Call Levels Just Spiked

The majority of stocks are off to a rough start in 2016, and Apple Inc. AAPL is no exception.

But after Apple’s 5.2 percent drop so far this year, which prices are Apple traders watching closely?

According to data from Call Levels, traders now have Apple price points centered around the $100 level. That level represents a sharp spike from around $97 in the past several days.

Related Link: Related Link: Robert Coleman's quote about market volatility still rings true today.

Perhaps traders view this level as a key technical level to watch. The stock hit resistance at around the $100 level back in January, and a break above that level could be a potential buy signal for Apple bulls.

On the other hand, if the stock once again fails to penetrate this level, short sellers could see a re-test as an opportunity to trade another decline to the low $90s in coming weeks.

Apple bulls are hoping that the stock’s shaky start to 2016 is not an indication that a repeat of its 2012/2013 40 percent decline is coming this year. A similar decline from all-time highs would put the stock below $80.

For now, the data indicates that many Apple traders are watching the $100 level to try to determine if Apple has returned to its bullish ways.

Disclaimer: Any comments, opinions, perspectives and analyses including but not limited to views etc. are that of the authors own, and in no way can be perceived as professional investment advice. Examples of analyses, calculations performed within the Content are only examples and/or instances taken from the Call Levels App. These analyses, calculations etc. should not be treated as professional investment advice, strategy or any variant of such forms as they are based on limited and open source information. All prices, data and calculations are correct at the time of posting.