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Commentary Topic from greenfaucet

Apple AAPL Update: Daily Support but Monthly Bearish Engulfing

Apple (AAPL) investors rode a roller-coaster of news and stock price action last week, culminating in a massive sell-off in four days from the $215 area to the present $190 level. Let's take a quick look at the Daily chart to highlight a key support level and then link to a video analysis by Adam Hewison who notes the ominous "Bearish Engulfing Line" on the Monthly frame. First, the Daily "support" (line in the sand) zone for Apple stock: