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Apple Technical Analysis

SPX Tech analysis by Simon Kazinsky on 08:37 May 26, 2016 EST

In our previous Apple technical analysis in early May we warned about the possibility of a rebound in the share price as the last long term support was about to be hit. Shares were traded at $94 after free falling from the $110 area while the support was at $90.

Fast forward to today and the price of an Apple share is attempting to reclaim $100.

The medium term outlook remains the same for the US giant. Major resistance is below $110 while the support is at $90. I therefore favour selling strength close to resistance and placing soft targets above the support.