Apple Is At Key Support

Apple (AAPL) is down 38 percent from its all-time closing high of $199.83 set on December 28, 2007. At $125, the stock is touching the upper boundary of a key support zone that extends to $100. If consumer spending continues to slow, AAPL could have more downside.

I (RAH) have no positions in the stock.

Related Articles:

Price Patterns - A Bubble Top Is an Extreme Pattern
Price Patterns - Support Levels May Constrain Price Downsides

Posted February 21, 2008.