Courtesy of Chris Kimble.
CLICK ON CHART TO ENLARGE
With Apple being the largest company in the world, what Apple does has ripple effects that are beyond measure.
First off, Apple remains inside of a 35-year rising channel. Of late it was within 15% of hitting the top of its channel. No doubt the trend is up.
At this time Apple is testing a support line that could have ties back to its 2002 lows.
It’s early in the month. What Apple does with this support line test could have a large impact on key stock indices going forward.
If Apple is to bounce, it could happen off this key support line.
–
To become a member of Kimble Charting Solutions, click here.
