Apple: Failed Attempt to go above 700 sees it down to 600 at least from here

My prev post mentioned that Apple will rebound from oversold levels and make an attempt to go above 700. It did rebound but has since broken back down again. This failure sees it breaks two key support. So I think it will drift down to 600 first in the near term.

What's wrong with Apple? Look to buy here if optimistic about its outlook.

Apple touched 700 to a high of 705 on 18th Sep after selling near 2 million units of the Iphone 5 in the first 24 hours. Even after selling record 5 million units thereafter, the feel good factor seems to have disappeared. In fact, it has fallen 6.5% since. Right now, it is still hovering above the 50 day moving average around 650 and with daily indicators oversold, looks like will rebound from here. I will put a buy here for another upside attempt at 700 with stop loss below 650 or so.