Apple Inc. (NASDAQ:AAPL) Cracking Key Support Mark
Apple Inc’s (NASDAQ:AAPL) stock posted its 1st 5-session losing streak since January Thursday, and have lost about 4% since 1 July.
In Q-1 of the year, for the 1st time, Apple sold more iPhones in China than in the United States, a trend many analysts expect to grow as Chinese consumers upgrade from less expensive handsets.
But with around 30% pared form the value of Chinese shares since 12 June, some participants fear that the Bear market could hurt consumer demand and the Chinese economy
90-M individuals account for a majority of stock investing in China and the market selloff will curb their disposable incomes for luxury gadgets.
Also, concerning participants is a report that sales of the Apple Watch have taken a deep dive since its launch in April.
The wrist-worn gadget is CEO Tim Cook’s 1st major product and its a failure.
Apple’s stock is about 1% of falling below its 200-Day MA, the Key support at about 120, an indicator watched closely by traders, this for the 1st time since April 2014. And there is no support for the stock below its 200-Day MA.
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| NASDAQ:AAPL | 120.07 | 9 July 2015 | -2.50 | 123.85 | 124.06 | 119.22 | 77,889,600 |
| HaffX-LTN Analysis for AAPL: | Overall | Short | Intermediate | Long |
| Bearish (-0.43) | Bearish (-0.48) | Bearish (-0.42) | Bearish (-0.39) |
| Recent Candle Stick Analysis Bearish |
| Date | Candle |
| 7 July 2015 | Bearish Harami |
| 2 July 2015 | DOJI |
| Open Gaps |
| Direction | Date | Range |
| Up | 10 Feb 2015 | 119.84 to 120.16 |
| Up | 28 Jan 2015 | 112.48 to 115.31 |
| Down | 29 Jun 2015 | 126.51 to 126.47 |
| Down | 12 Jun 2015 | 128.48 to 128.33 |
| Support and Resistance |
| Type | Value | Conf |
| resist. | 134.46 | 2 |
| resist. | 132.80 | 4 |
| resist. | 128.71 | 14 |
| resist. | 126.45 | 11 |
| resist. | 124.75 | 7 |
| resist. | 122.65 | 5 |
| supp | 120.00 | 2 |
| HeffX-LTN Chart Indicators |
| Ind. | short | Inter | Long |
| EMA | VBe | VBe | VBe |
| MACD | VBe | VBe | VBe |
| RSI | N | ||
| TDD | Be | ||
| Fibs | VBe | VBe | Be |
| Highs | VBe | N | N |
| Lows | Be | N | N |
| Trends | N | N | N |
| Stoch. | VBu |
Stay tuned…
HeffX-LTN
Paul Ebeling
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