Apple confirmed it is trading in a downtrend on Friday when the stock printed a lower low under the Feb. 14 low-of-day at the $166.56 mark.The most recent lower high was formed at the $173.44 level on Feb. 16 and bearish traders will be watching to see if Apple prints a reversal candle below that level on the next bounce higher to indicate the downtrend is likely to continue.
Bullish traders will want to see big bullish volume come in and push Apple up above the $174 level, which would negate the downtrend.
Apple has resistance above at $167.88 and $171.03 and support below at $162.14 and $157.46
Bullish traders will want to see big bullish volume come in and push Apple up above the $174 level, which would negate the downtrend.
Apple has resistance above at $167.88 and $171.03 and support below at $162.14 and $157.46