Apple (AAPL) technicals Dec 23, 2014

AAPL price consolidation went on for the third consecutive day. Intraday volatility has gone massively down. It is positive that price stays above the opening gap that dates back to Dec 18, as well as above the downtrend line that prevailed from Nov 28 to Dec 17. Short-term momentum is positive as long as prices remain higher than $111. There is strong resistance in the 115 area, while the opening gap and the 50-day SMA in the 109,50 area provide nice support.

AAPL, daily chart (3 months):

appl

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

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