Nick Nasad
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AAPL: Critical Support at 540

The New Year has not been kind to equities or risk sentiment as stocks have backtracked.

  • This bout of risk aversion has hit tech giant AAPL which had been declining prior to the turn of the year after hitting a high near $571.
  • It's now $30 lower and testing key support at $540, which held back in mid-December.
  • This is also where the 55-daily EMA comes in at the moment.
  • A break through this support still has another pivot to content with at $533, the 100-EMA at $520, and another level of support at $513.