Through TheFly's Eyes: Apple Computer, Inc.
from Theflyonthewall.com














A Technical View

Apple's (AAPL) stock is taking a hit today on a report from OffTheRecordResearch suggesting that Apple's third quarter is off to a slow start on sales falling below plans. On a technical basis the stock was signaling trouble several sessions ago when the short-term uptrend line was broken. Further cause for concern in the chart has been a notable drop-off in volume interest as the stock's price was rising. This is a negative divergence from what appeared to be bullish price action.

Support levels to watch (which may now be downside targets) are $64.35, $62.90, $61.05. Resistance levels (which may stop rally attempts but are bullish if the levels hold or are exceeded on those attempts) are $66.01, $67.35, $68.04.

Chart created with Equis MetaStock