Shares of Apple Inc. (Nasdaq: AAPL) have been on a tear, but they have reached a critical level. There’s a chance that the rally ends, at least temporarily. There’s also a chance the shares reverse and head lower.
When Apple's stock reached $143 in January, it crashed into a wall of sellers. It rolled over and a steep sell-off followed.
Now the shares have reached this important level once again.
Resistance levels can retain their importance for long periods of time. This means there could still be a large group of investors who want to sell their shares around $143. They could put an end to the rally and maybe even force the stock into another downtrend.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.