Apple

Apple Inc. shares turned out to be in a very interesting position. After swinging to USD 119.50 the stock tanked nearly 20% to USD 106. The tech giant’s two attempts to bounce off this mark were not very successful, as a result of which a failed swing pattern shaped up with a boundary at this level. The stock’s latest trend since May 2014 also approached this mark. The stock price has already breached both lines, and it makes sense to trade short with a first target price at USD 103.20, the closest graphical support level, and later at USD 95 as the 38.2% Fibonacci retracement from the last move.
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