Let's take a closer look at Apple ($Apple(AAPL)$ ) from a technical standpoint.
The stock is sitting at 89% of its 52-week range, right on the edge of new all-time highs ($243.42 to $345.34). There's a rising trendline off the June lows that has held up well, though the stock has had a rough time since early August really breaking away from it. I wouldn't call it a hard bounce off that level—it's been more like riding the trendline higher rather than pushing decisively off it.
That rising trendline also sits inside a broader rising channel. A strong bounce off the trendline would likely see AAPL retest the upper channel band and put in new all-time highs along the way, and that upper area has acted as heavy resistance in the past. What also wouldn't surprise me, given the lack of a real bounce off the trendline, is if it broke that support and pulled back to the lower channel band for a potential bounce setup.
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