Apple Shares Rise 3.1% to $283.78 as Rebound Extends

On June 29 Apple shares climbed 3.1% to $283.78 on heavy volume, extending the rebound that began after the stock found support near $275. The move follows a sharp 12% decline since early June that included a 6.12% plunge to $275.15 on June 25, breaking below the 288.62-303 buy zone. Oversold RSI readings and the prior role of $275 as resistance in February and April have drawn buyers, while fundamentals remain solid with March-quarter revenue of $111.2 billion and expectations for 15% full-year sales growth ahead of the September 1 CEO transition.