Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Sunday, January 3, 2016

AAPL Rejected by 100 Week MA

AAPL reached a pivotal point a week ago when it got down to its 100 week SMA shown with the brown line in the first chart of the bottom row, its weekly bars chart.

However, APPL will soon have support of its 38% Fibonacci level measuring off of its 2013 Summer low up to its peak (shown in chart 3).

The support level in the top chart that was lost on Friday was a fairly important one from December 2014.  The mixture of these could produce volatile trading in AAPL.

Trade well my friends


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