Tuesday, 20 October 2015

AAPL - cruising higher

Whilst the broader market saw a third day of relative chop, there was notable strength in Apple (AAPL), which settled +1.8% @ $113.78 (intra high 114.17). Near term outlook is bullish to the $116s.. above that, there is open air to the 200dma in the 120s.

AAPL, daily

AAPL, monthly


Suffice to say... AAPL is broadly following the main market, but it does have stronger underlying upward pressure.

A test of the 200dma looks highly probable within the next few weeks.

Where AAPL goes from there.. will be a very important leading indicator for the main market.