The Breakdown on Apple (AAPL)

by Ryan Mallory

You might have already bought the iPad, iPhone, iPod, and every other product that apple sells with the "i" in title offering. With that said, could it be that people are over exposed and over saturated to Apple products, or is this simply a minor breather on the way back up to new highs with new ideas that will create new and fresh demand for their timeless products?

Here's the Apple (AAPL) Breakdown:

• Chart on AAPL is approaching the significant 200-day moving average where bounces have occurred in the past.
• The company is still sitting on a load of cash and could make a very strong move into a new industry and thereby introducing new possibilities with their existing product lines.
• In an otherwise tough market, AAPL stock has managed to hold steady overall and trading positive on the year still. 
• Trend line (purple line below) is holding strong for quite some time now, and expect buyers to jump in once price touches it. 
• A move below $350, and I'd say all bets are off, and look to exit any long positions in this stock.