Thursday, 5 September 2013

AAPL - set for a golden cross

Whilst the main equity market continues to battle higher, Apple (AAPL) closed lower, settling -0.7% @ $495. Despite the recent moderate decline, AAPL is set for an important 'golden cross', where the 50 day MA breaks back over the 200 MA.

AAPL, daily


The last few weeks of price action could easily be setting up a rather large bull flag.

For those seeking major index gains across Sept..and into October, AAPL is now one of the most bullish stocks out there.

Not only is there huge support in the $450s - where the 50..and 200 MA are lurking, but AAPL is going to get a golden cross. On any basis, near term outlook is bullish.