Apple shares hit a wall of resistance

Before their recent rally, shares of Apple Inc. (NASDAQ: AAPL) have hit the $ 137 level three times in the past nine months. Each of the occasions was followed by a massive sale.

The tech giant hit $ 137 for the fourth time in Thursday’s session and sellers flooded the market. Once again, stocks fell back and closed lower that day.

Sometimes when a stock encounters a resistance level, it will trend downtrend afterwards. This has been the case for Apple in the past months of September, December and February. Although, there is a good chance that this will happen again, as the shares were trading lower this Friday morning.

Read also: Apple’s Q2 Results Exceed Expectations

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