Thursday, 15 September 2016

AAPL - the chasers keep on chasing

Whilst the main market closed broadly higher, there was particular strength in Apple (AAPL), which settled significantly higher for a fourth consecutive day, +3.3% @ $115.47 - the best four day run since 2009. Next resistance is the price cluster zone of 118/121.

AAPL, daily

AAPL, monthly


Today we saw AAPL attain a daily MACD bullish cross.

The monthly candle now looks very bullish indeed. At the current rate of incline, we'll see a bullish MACD cross on the monthly cycle in late Oct/early November.

Its been an interesting few days, and based on broader price structure - a giant bullish wedge, there are many... further months of upside to come.

New highs (>131) by early spring 2017, now look extremely probable.