Apple (AAPL) Outlook For September 30, 2014

On Monday, AAPL opened with a gap down but saved the day closing just over the psychological $100 mark, although still negative on a day-to-day basis. The MACD is on a sell mode, but the stock needs a close above $101 to turn the technical picture into positive. AAPL has been range trading between $98 and $103 in the last month and I gues that a breakout over is the most possible scenario. The 50-day MA has been offering critical support lately and as long as it stays intact, chances favor a re-visit of all time highs for AAPL soon.

AAPL, daily chart:

AAPL_daily_20140929

Chart courtesy of StockCharts.com. http://stockcharts.com

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