Apple unveils their watch and everyone seems as giddy as a school girl at first thought.
Then reality sets in, and everyone says, “meh…I’ll pass.”.
As a result the stock gives back nearly 2% in gains and even makes new lows on the day, before trying to find a mid point between the two extremes.
Nonetheless, all does not look well for Apple (AAPL) short-term as the stock is flirting with a move to the $120’s possibly. It is going to need to stay above the $126.30’s otherwise, the shorts may see even AAPL as an opportunity in the making – not to mention that in this current trading environment, the internals of the broader market isn’t holding up so well either.
Here’s the Apple (AAPL) Technical Analysis:
