Tuesday, 9 August 2016

AAPL - helping the Nasdaq break a new historic high

The Nasdaq comp' broke a new historic high of 5238, and that was partly due to continuing underlying strength in Apple (AAPL), which settled +0.4% @ $108.82, the fifth consecutive net daily gain. Mid term outlook is bullish, and if the main market doesn't unravel in Sept/Oct', then AAPL will be challenging for >$131 in spring 2017.

AAPL, daily

AAPL, monthly


Suffice to add... AAPL continues to power upward... filling the April gap zone of the $107/108s.

The upper daily bollinger will be offering the $110s across the remainder of this week.

The giant monthly chart shows a clear breakout. At the current rate of recovery, we'll see a bullish MACD cross in Oct/November.. and that does bode for broader upside into next spring.