Apple Flirts With Major Support Again

Apple Inc.

shares are trading lower $0.78 at $92.96 in Monday's session. It is trading lower for the eighth day in a row, which includes four days since its disappointing Q2 report. It is now nearly $20 off its April 14 high ($112.39) made ten days before reported its first iPhone sale drop in 13 years. At this time, it is attempting to hold a very important area of support in the $92 handle. The reason being is that the issue bottomed at $92 during the August 24 Flash Crash and at $92.39 on February 11, More importantly, it bottomed at $92.51 on Friday and so far at $92.40 in today's session. On many occasions, it is the fourth attempt at a major support or resistance, when the area is finally breached.