Need Help?  

1-888-998-3548 or 646-214-7240

Key Levels to Watch in Apple (AAPL)

Scott Redler and John Darsie
Nov 28, 2012, 9:59 AM

Apple (AAPL) has faced unusual adversity over the past few months. After topping out above $700, AAPL pulled in 200 points, piercing major support levels before putting in a potent reversal on November 16th with the rest of the market. Since then, the stock has shown relative strength and resumed its role as market leader. With the indices showing some weakness once again on fiscal cliff anxiety, we will be watching key levels in AAPL to measure the composure of the rally.


First, here is a breakdown of key levels for AAPL over the last few months. The stock put in a head and shoulders top from late August to the beginning of October and broke down hard through the neckline. The stock then broke an uptrend that had been in place since May before plummeting through its 200-day moving average on November 2nd. After its recent bounce, the key support level to watch today will be $574-576.



Another tool we use to measure the composure of a new fledgling rally is the Fibonacci retracement levels. AAPL is set to open lower this morning and likely fill its gap from Black Friday. The 25% Fibonacci retracement level of the rally from November 16th sits at $569, so that's another level we will be watching closely. If we break that, the 38.2% Fibonacci level sits at around $558, which coincides with support from the bottom of last Tuesday's candlestick.



AAPL has provided nice upside action since reversing, but is still below its 200-day moving average so it's not out of the woods. Don't be stubborn just because it's AAPL, but watch key levels for potential dip buying opportunities on this perennial winner.


We will be watching this potential AAPL opportunity closely live in the Virtual Trading Floor(R) this morning, where you can see all of our actual trades in real-time. We also cover AAPL regularly in our Off the Charts newsletter and morning Price Point Sheet.



*DISCLOSURES: Scott Redler is long GOOG, BAC, SLV, LEN, LULU, BAC. Short SPY.

Last Updated ( Wednesday, 28 November 2012 10:27 )
© 2012 T3 Live, LLC
  1. T3 LIVE, LLC is NOT a Broker Dealer. T3 LIVE, LLC engages in trader education and training. T3 LIVE, LLC offers a number of products and services, both electronically (over the internet through and in person. Through T3 TV, an online video network that is available through, T3 LIVE, LLC provides LIVE pre/post market and stock analysis. Through, T3 LIVE, LLC offers the "Virtual Trading Floor", a community through which independent traders (subscribers), as well as select T3 Trading Group, LLC Traders, observe a virtual trading floor environment (as described below) for educational purposes. T3 LIVE, LLC also offers web-based, interactive training courses on demand.
  2. Subscribers are able to see if traders are long or short and what symbols as part of best practices in regards to disclosure. Subscribers do not see trader' screens, trades or size of positions. T3 requires traders to disclose whether they are long or short and which stocks they are trading to ensure that the community is fully informed and that traders substantiate their opinions. This approach is modeled after the analyst disclosures that accompany commentary on particular stocks on CNBC or other financial news media (as per FINRA Rules 2210 and 2711).
  3. The seminars given by T3 LIVE, LLC are for educational purposes only. This information neither is, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities. You shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.
  4. This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE, LLC or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs.
  5. The videos and blogs shown on T3 LIVE, LLC are for informational purposes only. The investment ideas and expressions of opinion may contain forward looking statements and should not be viewed as recommendations, personal investment advice or considered an offer to buy or sell securities. T3 LIVE, LLC statements and opinions are subject to change without notice and should be considered only as part of a diversified portfolio.
  6. T3 LIVE, LLC and T3 Trading Group, LLC are separate, but affiliated companies.
  7. T3 Trading Group, LLC is a Registered SEC Broker-Dealer and Member of the CBOE Stock Exchange (CBSX All trading conducted by contributors on Virtual Trading Floor is done through T3 Trading Group, LLC. For more information on T3 Trading Group, LLC please visit
  8. Global Trading Plus, LP (“GTP”) is the exclusive provider of T3 LIVE, LLC products in Europe, all the former Soviet Republics (dating back to 1991), and Israel. GTP is a separate company and has no common ownership with T3 LIVE, LLC, T3 Trading Group, LLC.