Wednesday, 16 April 2014

AAPL - holding the 200 dma

Despite the broader market seeing some significant gains, Apple (AAPL) is still struggling, but..importantly, holding above the 200 day MA. AAPL settled the day +0.2% @ $519. Near term outlook is moderately bullish, to the 530/550 zone.

AAPL, daily


Suffice to say, we have one of the tech giants holding the 200 day MA, and with the broader market now seemingly on a new multi-week up cycle, AAPL will likely be part of it.

First upside target is the 50 day MA of $530, and a secondary target of the $550 threshold.

Earnings for Q1 will be interesting to see, they are due next Wednesday, April'23.