Apple (AAPL) is one of the great success stories in America history. No one can deny the incredible strength and price movement of AAPL from $7.00 in 2003 to over $700.00 in 2012. Every time I go to the mall and walk pass their store, I see it packed with people.

RESISTANCE LEVEL
Was $700.00 more of psychological number of resistance?

GAP REVIEW
On October 8th, 2012, AAPL had an igniting gap down out of an uptrend. This gap down broke the price support area of $650.00 and pushed APPL to hunt for new demand/support.

KEY LEVEL
If AAPL stays under 650.00 from that igniting gap down, lower prices could be in store.

THE TRADE
Watch for price rejection on AAPL near $650.00 (gap area). Targets: $616.00 and 580.00 off the daily.

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[Editor’s note: Everybody is trading Apple. Tell us your outlook? Are you holding for the long haul? Day trading? Where do you think Apple is headed?]

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APPL Gap Down Chart