Today’s instrument is Apple Inc.‘s stock traded on the Nasdaq exchange under the ticker AAPL. 

When we look at the AAPL ‘s chart, we see a rally from $176 on the 29th of March to the high of $179.5 and then followed by a retraction down to $175 and even further below in the $172 where it formed to support. During yesterday’s session, it opened with a gap up, trading well into the $177 range and closing strong in the $178.4 range where it was last found trading. The closest overhead resistance can be found at $179.5 and the closest support at $175.

Today we can expect a move towards the $180 range or consolidation at the current level. 

If however, it doesn’t manage to hold on to the current level then a move towards the $175 closest support level can be expected.

(Click on image to enlarge)