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Tech

Apple (AAPL) : Watch for the kumo support

Apple has a pretty good support at around $240.

On the Daily Chart, we can see that it is now sitting on the kumo support despite a gap down.

There are about 3 instances over the last 3 months where AAPL rebound off 235 – 240 levels.

Having said that, a bearish Tenkan sen – Kijun sen cross has been sighted within the kumo.

On the Weekly chart, it still shows that AAPL bullish trend is still intact and is now sitting on the Kijun sen (trendline).

Note:

– next possible product from Apple is TV (or most likely TV rentals)

– its mobile ads platform has also seen pretty good revenue