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Technical analysis for Apple (AAPL), the shares closed with a high-test pattern on the monthly chart, rejecting dynamic resistance, a signal for a resumption of the decline. The focus now is on the previous weekly low at 129.00$ and a break below will send the shares of Apple lower. The first target in this bearish development is 125.00$. The second target is the 0.618 FIB retracement on the monthly chart at 103.00$.
On the other hand, if the price of the shares of Apple breaks above the dynamic resistance and the previous high on the weekly chart at 176.00$, that will open the door for a bullish run toward the monthly all-time high at 182.94$. And a break above 182.94 will resume the bullish wave on the monthly chart. In such a bullish development for the shares of Apple, The next bullish target is the 0.618 FIB extension on the quarterly chart at 192$. A break above 192$ will open the door for a bullish run toward the next target at the 2.272 FIB extension at 208$ and possibly the 2.618 FIB extension at 230$.
Weekly chart:
Monthly chart:
