Apple (AAPL) Outlook For October 6, 2014

AAPL has been trading between support offered by the 50-day SMA and resistance by the confluence of its 10- and 20-day SMAs, a bit below the $100 mark. This is indicative of a rangebound market. I believe that consolidating a bit below all-time highs is positive for AAPL and that the stock will make new all time highs shortly. AAPL needs a close above $101 in order to turn the technical picture into positive in a conclusive way.

AAPL, daily chart(3 months):

aapl_20141003

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

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