Chart of AAPL(click to enlarge)
AAPL has seen a decline of 6% from the high on 4/21(355.13) to the low of today (330.73). What should AAPL shareholders and traders do? In the last hour of trading today the stock rallied over 2 points and closing on the highs. Thestock also closed above the 23.6% fib retracement from the high on 2/16 to low on 4/18. Tomorrow look for the rally to continue before testing resistance level of 340.25. There is plenty of resistance the stock needs to break through before it can get back to all time highs. After the 340.25 level the next levels of resistance are 344.62, 346, 348.98, and 355.21. If AAPL is unable to hold the support level of 334.84 watch out because it will look to test 326.10 level. These levels will be watched carefully by traders. So when these levels are approached watch them closely to give a better picture of the stock. If it breaks through resistance with ease you know the stock has momentum and there are buyers there. If it gets there and fails watch to see where it catches support. Keep an eye out for these technical support and resistance levels.