A quick look at Friday: although Apple increased from $180.57 to $182.23, the stock dropped back and is now priced at $180.96.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Price action remains constrained around the key Fibonacci level of $180.95 currently serving as support. If price action breaks below, the next Fib hurdle is $177.36. Analysis based on the asset volatility indicates that Apple's upper Bollinger Band® is at $183.19, suggesting that a downward move may follow. Chart analysis indicates Apple is approaching key support, around 62 cents away from $180.34. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Notwithstanding Apple's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Meanwhile, mixed performances were seen by other technology stocks as Adobe added 3.41% to its value, and traded at $454. TSM gained 2.86%, as it traded at $102.8. Salesforce traded at $215.31 after closing Friday's trading day at $209.53 (up 2.76%).
The stock has been trending positively for about 3 months. The mobile and tech colossus now trading 21.94% above its 3-month low of $125.