Apple Struggles With Psychological $100 Level
Apple Inc. (NASDAQ: AAPl) shares are trading lower by $0.49 at $99.86 in Tuesday's session. The issue has been pausing over the last few sessions after a $10 rally following the announcement of Warren Buffett's $1 billion stake in the issue.
Last Thursday, the issue peaked at $100.73 and found sellers ahead of that level on Friday at $100.47 and in today's session at $100.40. Also, the high close of the move was made last Thursday at $100.41. It did manage to close near that level on Friday ($100.35), but that area has formidable resistance in today's session.
Related Link: Here's Why Apple Is Focused On Low-Cost Phones And Why iPhone 7 Could Be Weak
After only a $1.27 range on Friday, Apple has been in a tight range so far in today's session. At this time, it has found intra-day support ahead of Friday's low ($99.25), with the current low standing at $99.54.
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