I thought it was about time, to give you a quick synopsis on what is going on with Apple’s stock (AAPL). There is a blend of good and bad when describing its current state. First, it failed to make a new high back in late June, when it was trying to run. Instead, it made a noticable ‘higer-low’ on the charts which is definitely a cause for concern.

Now given, this isn’t the type of technical action that is considered to be a show-stopper. However, it is something to keep an eye on. Now if it manages to break through the previous high, then everything is back to doing okay, but if we break below the previous low on the charts, then things could get nasty, which would be somewhere around the mid-134’s. For next week, we are going to raise our stop-loss in AAPL, to just above break-even.

Another area of concern, is the flattening of the trendline. The solid line below represents the original trendline, and the dotted line, respresents how the trendline has managed to flatten over time, to where the current trend, that is just beginning, is nearly flat. This is a good indication that the overall upward trend the stock has been on since March of this year is maturing and may very well be running out of steam. If that happens, we will be positioned in such a way, that we don’t take a loss as a result

Finally, its important to bring up the waning volume that is being seen in Apple, as it has seen a gradual decline in the volume of shares traded daily since the beginning of the year. This could be a good indication that Wall Street isn’t pumping the money into it as it once was and investors in general are taking their money elsewhere, which assuming as much to be true, would likely lead to Apple seeing a noticeable pullback from its current price levels.

While, the trendline has indeed flattened quite a bit, it is nonetheless, still trading within 10% of its highs, after seeing an initial run that took it from $80 all the way up to $145, an increase of 82% – Not Bad at all. So the other side of the argument says I’m insane for even mentioning the idea that Apple could be fizziling, but hey, I’m just calling it as I see it. I have no other bias in this other than to make money in the trades I make. I don’t care about any one stock enough to defend it when it doesn’t deserve being defended. I’m not even necessarily saying that you should throw the towel in on Apple, instead I’m just showing you a few areas of concern and what you might want to be paying attention to in the future going forward in this stock.

Here’s the Apple (AAPL) Chart…