Monday, June 28, 2010

Apple Inc. (AAPL) - Key Level To Watch


Today the stock market was down slightly but Apple Inc. (AAPL) was able to keep its head above water by closing up for the day. A big level to watch for is the 265 area.  As you can see in the above chart, the 265 area was once solid resistance but now should act as support.

 Early this morning AAPL tested this level and was able to find buyers. Volume was marginally heavier than on Friday which is somewhat bullish. The only thing holding this stock back from surging higher is the overall stock market which is under selling pressure at the moment. I think if the stock market can bounce from these levels, Apple Inc should be one of the leaders to the upside. 

Today AAPL closed at 268.30 which is up 1.60 from Friday's close.

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