Key Psychological Level: Apple Approaches $100
Apple Inc. (NASDAQ: AAPL) shares are trading higher on Tuesday, getting closer to $100. After a higher open, it dipped only $0.23 to $97.42 before embarking on a rally towards the psychological resistance at the $100 area.
Since it Q1 report on Janaury 26 that did not meet Wall Street's expectations, the issue has been in a trading range. The bottom end of the range was well guarded by its August 24 Flash Crash low ($92) with $92.39 being the low.
Until today, the top of the range was $98.89, but has been extended so far to $99, where it is currently trading.
If the rally continues, there may be some minor resistance at it pre-earnings report high of $100.88.
In addition, there is a pair of highs from January 22 ($101.46) and January 25 ($101.53), (the two sessions before the report) that may act as a resistance.
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