AAPL Stalls Below $203 Amid Technical Uncertainty
Apple Inc. (NASDAQ: AAPL) appears stuck tight, trading slightly below the resistance level at $203.50. Like many stocks, Apple is currently consolidating, having developed a habit of trading at significant Fibonacci retracement and exponential moving average levels. This price action can be interpreted as indecision by the market, as the bulls and bears have an apparent stalemate with no clear direction.
Current Trading Range and Resistance
The stock price has been stuck in a tight range between support at $190.34 and resistance near levels around $205.70 for the last couple of weeks, as it has repeatedly failed to break above $203.50. Apple has remained pinned under a cluster of exponential moving averages on the 4-hour chart,…
