The Pencil Technician

This is a daily chart of AAPL shares which goes back to the late spring where it traded at hundred $156.65 that was right after earnings. It then retraced and made its way back up to $154 where it was met with stiff resistance and the selling began in anticipation of earnings which in some reports are hinting at a slow down and possible warnings. But if history serves as any reference the shares can go 4.5% in either direction so in the bullish case the stock gaps and moves to $155.42 which is in line with yearly resistance. Also on the downside the stock can trade as low as $141.84 so for the individuals playing options they will have profit zones above the upper line and profit zones below the lower line. I included yellow arrow below to Mark the base where price took off and went to recent highs. Right now there is some selling pressure building up in the NASDAQ and the leaders are diverging which means that the weight of earnings expectations and the attitude of seasonal changes can influence tech companies all the hype that drove the rally to its current state.