romanreyhani

Apple Heading Up?

Long
NASDAQ:AAPL   Apple Inc
AAPL cleared two hurdles today - it closed over both the 200 day moving average as well as a resistance line that has been capping the stock starting in July 2015. We've had a recent false breakout over the 200 day average before (November 3-4 2015) so we will have to give this a couple of days to make sure it's for real. Also, the stock didn't close over the April 4 high of $112.19. Nonetheless, today's advance is particularly interesting since the break over the 200 day average is coupled with a push through that multi-month trendline. Apple reports earnings in less than 2 weeks, which could be decisive in setting the short/medium term direction.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.