Apple Inc. (AAPL): Beware The Apple Trapple

technical chart lookCorey Rosenbloom:  Apple Inc. (NASDAQ:AAPL) is tricking traders right now with a possible failed breakdown or Bear Trap Trigger.

Let’s update our charts after last week’s “Apple Support Bounce Challenge” and plan the next move.

We’ll start with the Daily “Price Only” Chart:

First, take a moment to read last week’s post on the “Support Bounce Challenge” at the $92.50 level.

Today allows us to fast-forward to a strong breakdown just under $90.00 per share.

However, Friday and now Monday saw the bulls overwhelm the sellers (and short-sellers) to burst price back above the breakout level near $92.50.

IF price holds above this level this week THEN it will likely trigger (spring) a Bull Trap.

Either way, our key focus should be on $92.50 and the departure away from this critical pivot.

Here’s an indicator and volume chart for more information:

Starting the the Trend, Apple (AAPL) is in a downtrend with lower lows, lower highs, and a bearish moving average structure.

Price triggered an aggressive breakdown (sell-signal) under $92.50 that was met by bullish pressure at $90.00.

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