AAPL Apple Daily Chart -- iPad Release was 3/2/11 with Steve Jobs

AAPL Apple daily chart to look back at the iPad release a week ago. The release hoopla began at about 1 PM that day at a 350 price. A few minutes later, the news wires stated that Steve jobs took the stage and the price spiked to 354, then the video feed hit the tv's a few minutes later, and price went south to 350-ish again settling the day at 352. Those three levels are shown above and yesterday's price collapsed thru the 354 level to close at 352, the same price as the day of the iPad release a week earlier.

Today the price collapsed thru the 350 level, bounced off the 50 MA at 344.86 to close at 346.67. Apple is now four dollars lower than when the iPad was released last week, looks like the honeymoon is over. The 50 MA and horizontal support form a strong confluence at the 344.90 level. Price will test 344.90 again, probably tomorrow and a bounce, or a failure, will tell the story. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.