Shares of Apple Inc. (NASDAQ:AAPL) have been on a tear, but they have reached a critical level. There’s a chance that the rally ends, at least temporarily. There’s also a chance the shares reverse and head lower.
When Apple’s stock reached $143 in January, it crashed into a wall of sellers. It rolled over and a steep sell-off followed.
Now the shares have reached this important level once again.
Resistance levels can retain their importance for long periods of time. This means there could still be a large group of investors who want to sell their shares around $143. They could put an end to the rally and maybe even force the stock into another downtrend.
