Apple: A Rebound Ahead?

 | Dec 16, 2014 05:29AM ET

Apple Inc (NASDAQ:AAPL) shares closed on support offered by their 50-day SMA yesterday. Intraday they fell below this significant technical level for the first time in two months. The market may rebound from here but only a close above $113 will change the daily trend to positive. Before that, $110 will create some selling pressure.

AAPL, daily chart (3 months):