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The following is the chart for AAPL from Yahoo Finance. The chart says that the resistance level is $364.84. What is causing this resistance? Is it caused by big investors who have made a collective decision not to buy AAPL shares more?

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Resistance occurs when supply is strong enough to stop a stock's upward movement. It's declared to be resistance when there are multiple touches of small price range without a significant breakthrough of that price and each touch is followed by a modest retracement in price.

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