AAPL shares have really not been right since reporting strong earnings on April 28 despite the stock making renewed efforts at a rally. However, this move has stalled late last week as AMC and other meme names returned to grad traders' attention leaving Apple to slip quietly back toward $125. The sideways, directionless trend looks to continue. Those results back in late April really were knock out but the stock failed to react accordingly. Earnings per share were reported at $1.40 versus the average analyst forecast of $0.99, a 40% beat. AAPL shares were trading at $131 at the time of earnings and popped up to $137 before gradually sliding back to $122.
This was a strong support zone as evidenced in the chart with a large period of consolidation back in March and April. The 200-day moving average also played its part in halting the AAPL slide. Apple shares have made a new series of lower lows and higher highs signifying a new uptrend. Friday's price action was a little disappointing as AAPL slipped out of the nascent uptrend and put it into question. As we have demonstrated previously, levels sub $125 so represent a strong support region. 
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AAPL shares have really not been right since reporting strong earnings on April 28 despite the stock making renewed efforts at a rally. However, this move has stalled late last week as AMC and other meme names returned to grad traders' attention leaving Apple to slip quietly back toward $125. The sideways, directionless trend looks to continue. Those results back in late April really were knock out but the stock failed to react accordingly. Earnings per share were reported at $1.40 versus the average analyst forecast of $0.99, a 40% beat. AAPL shares were trading at $131 at the time of earnings and popped up to $137 before gradually sliding back to $122.
This was a strong support zone as evidenced in the chart with a large period of consolidation back in March and April. The 200-day moving average also played its part in halting the AAPL slide. Apple shares have made a new series of lower lows and higher highs signifying a new uptrend. Friday's price action was a little disappointing as AAPL slipped out of the nascent uptrend and put it into question. As we have demonstrated previously, levels sub $125 so represent a strong support region.