Apple Inc. Trapped In Trendlines
Apple Inc. (NASDAQ:AAPL) which is the highly popular maker of various devices and gadgets such as the iPhone and iPad, has just announced that it will be hosting a media day on September 9. It is expected that they will announce the release of the new iPhone 6. When I look at the chart of Apple Inc. (NASDAQ:AAPL) I see that stock has been trending upward in a channel. Every time the stock hits the higher end it sells off, and when it touches the lower end it gets a bounce. Right now we are at the lower end of the channel and finding support. However, if this stock fails to hold this support it is headed straight to $93 and then $89.75 level. Be long with caution here.