Apple - the 200-day moving average is providing some great support here for Apple

Taking a look at Apple as its share price has approached the 200-day moving average for the third time so far this year. Currently, its stock is trading at around $186.57 a share. Apple saw 5 straight red days in a row, dipping below the 200MA to test the trendline support of $179.23 before bouncing higher on Friday. The current outlook on Apple is a little mixed as the recent bounce highlights the fact that there is strong psychological support between $179-$182. Yet, on the other hand, the recent sell-off along with the earnings have spurred some negativity for investors. However, for the time being, the stock is managing to uphold its value. Nevertheless, a clear break below $179.23 could then be the beginning of a mid-term decline towards $165-$166. Towards the upside, minor resistance reads $187.46 and then the price level of $191.62. A move above $191.62 may then see an extension towards $196.37. Looking at the technical indicators, the MACD is slightly negative but the RSI is neutral after Friday’s bounce, reading 47.