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AAPL - a Pending Test of the 2015 Triple Top

Apple shares have rebounded sharply since falling to about 92.00. It is now trading around 115. The daily chart shows the v-shape reversal, which shows that despite the beafanibuslirish correction, bulls are still in charge of the market. 

AAPL Daily Chart 9/25
(click to enlarge)

As price springs back up, it will be prudent to monitor the 120-124 area, which includes 1) the 200- and 100-day SMAs, 2) a previous support/resistance pivot area. This is also the bottom of a triple top that formed from February to August. Now that price top support can become resistance, especially as the daily RSI approaches 60.

If price holds under 124 and preferably below the 120 psychological level, AAPL might still have more bearish correction to go, with downside risk to at least the 92-95 support area. A break above 125 however could be part of a bullish continuation scenario that will have the 134.50 high on the year in sight, with risk of breaking higher.