There&rsquo;s no doubt about it: Apple Inc. AAPL&rsquo;s technical picture has been pretty bearish in the past couple of months. However, the stock is now in danger of things getting a lot worse. 
	 
	Benzinga first reported about a bearish technical signal in Apple&rsquo;s carts on <a href="http://www.benzinga.com/general/education/15/04/5453164/new-bearish-technical-signal-in-apples-chart#/null">April 29</a> of last year, immediately after the stock hit all-time highs of $131.29. In just over a year since that story, Apple&rsquo;s shares have fallen nearly 30 percent.&nbsp; 
	 
	<img alt="" src="/files/u81483/aapl1_1.png" style="width: 480px; height: 215px;" /> 
	 
	The stocks post-earnings sell-off now has it once again testing its 2015 flash crash lows of around $90.&nbsp;Apple has repeatedly found technical support I this region in the past couple of years, including during the early 2016 market sell-off. A breakdown below $90 would be a significantly bearish signal for Apple traders.

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	Related Link: <a href="http://www.benzinga.com/tech/16/05/7939047/did-apple-steal-this-artists-music">Did Apple Steal This Artist&#39;s Music?</a> 
	 
	In the longer-term, however, Apple bulls remain optimistic that Apple simply got overheated and is repeating the roughly 40 percent pull-back it experienced in 2012-2013. If that&rsquo;s the case, the stock could dip as low as $77 before resuming its uptrend. 
	 
	<img alt="" src="/files/u81483/aapl2_0.png" style="width: 480px; height: 216px;" /> 
	 
	Any way you dice it, a dip below $90 would be very bad news for Apple&rsquo;s technical picture in the near-term. The $77 level represents at least another 16 percent downside for the stock from its current price.

	 
	Disclosure: the author holds no position in the stocks mentioned.

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Apple Chart Approaching $90 Technical Line In The Sand