Apple stock prices face key support

By Julian Yosovitch June 16, 2015 • Reprints http://www.futuresmag.com/2015/06/16/apple-stock-prices-face-key-support#.VYAywYOV7dk.twitter

Apple shares closed at $126.96 on Monday. 

This stock is trading in a short-term lateral process, finding support at the current lows located around $125.00-123.30, and within the 38.2% Fibonacci of the entire latest rally that began earlier this year.

In this sense, if Apple shares break $125-$123.30, it will indicate short- and medium-term signs of weakness, making way for further declines toward lower areas near $120 and even the $116-$115 zone, within the 200-day average and 61.8% fibonacci of the entire initial advance.

The market should quickly break the $130-$131 to postpone any further bearish movements, and in that context we will see further rallies toward $134.50 without ruling out a bullish continuation toward more ambitious higher values.