AAPL Apple Daily Chart

AAPL Apple daily chart showing current trend of lower lows and lower highs after the February top. 352-353 price area is where Steve Jobs delivered the iPad 2 Release 3/2/11 so this level takes on special significance moving forward. Interestingly, price is not higher after the release so perhaps the happy projections are hype? The red line negative divergence announced the top ahead of time and we watched the price roll over from there.

This 353 area is a test of the downward-sloping upper trend line, the iPad2 release day price, and horizontal resistance, not to mention a spank down from here maintains the lower lows and lower highs, so watch this area closely. If the 20 MA moves under the 50 MA, the downward channel will remain in place and price will continue lower. The ramifications of a lower Apple price are serious and will manifest with weaker indexes, weaker tech, weaker Nasdaq and weaker economy. 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.