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Will Apple Fall From The Tree?

Published 10/05/2012, 10:05 AM
Apple, Inc.
Revisiting AAPL, price movement has reached important support levels as I've noted several times from my twitter account to followers that a bounce at the least was imminent. The stock price bottomed on support at the $650 level and bounced back up to close that day at $661. The price reached 671,86 (at least +$15 profit from our alert) and is now pulling back down toward $660. A back test of the upward sloping trend line could be the reason. This is our bullish and most favored scenario. On the other hand, bears will try to break support levels that will open the road ahead for a decline toward $620-$10. All in all, we could be at the start of a new upward move above $700. In order for this to happen the price must stay above $650 and break resistance at $681 and $702.

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