Apple Inc. (AAPL) is trading down 5% on Wednesday due to the first earnings miss since 2004. Apple Inc. (AAPL) recently shifted from a downtrend to a powerful uptrend and is now testing support in the $390's. Apple Inc. (AAPL) needs to hold $390 or we could see the stock enter a new downtrend. AAPL will have resistance up around $407 today. Apple Inc. (AAPL) could now be an interesting short trade over the next three months.