Apple (AAPL) technical preview for December 3, 2014

AAPL shares experienced their second consecutive day-to-day decline. Such streak has not happened in more than one month now. The close was 114,63, the lowest close in two weeks. Some profit-taking or consolidation was to be expected after the recent 20% parabolic price increase. The short-term (daily) trend is down as long as price stays below $117. I still believe that AAPL will have a decent performance in the month of December, before the current bull market runs out of steam. A re-visit of its all time highs in the $120 area can happen in the next few weeks.

AAPL, daily chart (3 months):

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

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