Apple Shares at Critical Juncture: Will It Pop or Will It Flop?

Shares of Apple Inc. AAPL stock closed 121.30 on Friday, with an intra-day of low 120.91, marking the lowest level for the shares since 7/9/2015. Options and Volatility took a technical look at AAPL, with some of the highlights noted below. - AAPL closed just slightly higher than the 200 Day Simple Moving Average (SMA) of 120.76..last time AAPL traded below the widely followed 200 Day SMA was 9/16/2013, or nearly two years ago. A break below this key level could portend further technical downside for the stock, while a successful hold of this level could provide the impetus for a rally. -Shares of Apple have key round number support at 120. This level held back in early July and was the breakout point for a rally beginning in February, after earlier finding resistance in late November 2014. Again, a failure here could mean a sharp break lower in price, with a successful test of support perhaps leading to a technical bounce. -Implied volatility and put buying as increased over recent week, as noted by the RB Technology option scanners. Interesting to see if the big buyers are hedging or speculating. With AAPL being the largest market cap stock, it certainly is critical for not only Apple, but the entire market, whether the stock can successful hold the critical 120 level. -