Apple Stock Continues its Steep Fall, Violating Ominous Levels

Apple (AAPL) stock saw its 5th straight losing day and closed at a 5 month low. Now the shares have violated several ominous key levels and is starting to cost investors some real money. The gadget maker's shares fell another 2% Thursday. Investors are worried that China's economy is slowing and its residents' appetite for high-priced smartphones could dim with its stock market collapsing and the economy slowing. China was supposed to be the next big region for growth as any developed markets are saturated. Shares of Apple are now down more than 10% from their all-time high of $134.54 hit on April 28th. A 10% pullback is significant because it signals an unofficial correction. Shares of Apple are down more than 5% over the past month and violating the company's long standing trading range.