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A “Bull/Bear” battle between 30-year resistance and a two-year rising support channel is at hand with Apple at this time.
Apple hit its 30-year resistance line around the first of Apple and then proceeded to decline over $100 from its highs. A two-year rising support channel remains in place and is providing shorter-term support in the right hand chart.
A bounce in Apple could take place off of this rising support channel, with the 30-year line as resistance. One would want to have a stop just below the top of the top channel line because if it breaks, the 30-year line could influence it to trade down to the bottom of the two-year rising channel.