AAPL back to critical support

After a quick 10% rally last week, AAPL has returned to test the 4 year support just a few weeks after the last test.

2012-12-06-AAPL_CHARTS

Depending upon how the rest of today plays out, AAPL may wind up once again putting in a meaningful bullish wick.

2012-12-06-AAPL-ST_CHARTS

While I feel very confident that AAPL has more downside than upside in the long term, this may once again be a good short-term buying opportunity as a “stop” exit price would be close at hand.

 

 

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