Apple (AAPL) Outlook For October 8, 2014

AAPL still trading within the 98-103 range of the last two months. It lost price support offered by the 50-day SMA today, while the confluence of its 10- and 20-day SMAs, as well as the psychologically important $100 mark have been too strong to break recently. As long as the stock price goes on consolidating a few dollars below its all-time highs, the scenario of new price records is on the table. AAPL needs a close above $100 in order to turn the technical picture into positive in a conclusive way.

AAPL, daily chart(3 months):

aapl_20141007

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

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