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Will Apple Retest $197?

|About: Apple Inc. (AAPL)

Chart shows Apple is looking for a bottom.

Just had a knee jerk bounce.

Now traders expect a retest of $197.

As you can see on the chart below, (AAPL) is a stock looking for a bottom. It just had a technical bounce up to $209, a knee jerk bounce. Traders expect it to retest $197, the recent low. They are waiting for a reversal signal like the hanging man candle that appeared today. As you can see below the price chart, Supply is still a drag on price.

It is possible that price will break below $197 and test $191 at the 200-day uptrend.

AAPL chart

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