Apple (AAPL) technical analysis March 16, 2015

AAPL shares have not seen 3 consecutive weeks of losses since summer 2013. In my opinion, this is a normal correction within the huge bull market of AAPL. The current consolidation looks like a bullish flag. A close above $126 is needed for a short-term trend reversal. Dips can be used to initiate moderate-size long position targeting the all-time high @ 133,60. There is strong technical support @ $119 and $115 in case of a continuation of the downmove.

AAPL daily chart (6 months):

aapl

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

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