Apple (AAPL) August 31 preview

AAPL shares reacted nicely from their Monday low recapturing the $113 level swiftly, which turns the daily trend into bullish. The stock also broke 2 significant Fib resistance levels, which is positive. AAPL needs to stay above $111 to keep the upward momentum alive. Long-term investors will look at the “death cross” pattern (50-day SMA crossing below its 200-day counterpart) as negative though. Bullish down to $111.