Fallen AAPL

The table seems to have been turned for AAPL. The week that just passed, AAPL has been the laggard stock. While the market continues to hold its ground and consolidate in preparation for a move to higher level, AAPL has headed down.

The chart of AAPL below show how the volume has increased when it broke below the 391 level.



Although it has bounced off the 100 SMA, the key level to watch is the broken support level of 391. If it is unable to move back above 391 and breaks below the 100 SMA, then the next potential support for AAPL could be near the 200 SMA (around the 360 region). I will be monitoring the price actions for possible swing long to 409 when it reclaims the 391 level.

Disclosure: short on AAPL PUT.