Market Overview

Apple Finds Sellers At $110 Area For Fourth Day In A Row

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Apple Inc. (NASDAQ: AAPL) shares are trading lower by $0.08 at $109.87 in Wednesday's session.

Wall Street is undecided on whether or not there will be a a slowdown in iPhone sales in China. That concern was reiterated by Rosenblatt, which indicated year-over-year sales have declined 6 percent in China.

From a technical perspective, Apple has found resistance in a familiar area over the last four sessions including today's price action. On Friday, the issue peaked at $110.09, on Monday at $110.03, on Tuesday at $110.36 and at $110.09 so far in today's session.

On the downside, the issue found support after a lower open just above Tuesday's low ($109.19) and mounted another attempt to clear the $110.00 barrier.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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