AAPL - climbing with the main market

With the main indexes rallying on the comments of the Bernanke, Apple (AAPL) was part of the party, closing +1.6% @ $427. Near term trend looks moderately bullish, next target is the 50 day MA @ 433. If AAPL can clear that, a run to the 200 day MA @ 489 looks very viable.


AAPL, daily

Summary

Suffice to say, the bigger picture for AAPL still looks somewhat weak, but there is no question that the near term outlook is somewhat leaning on the bullish side.

A few daily closes in the mid 430s, and AAPL should at least get to test the early May high of $462.

Baring a non-stop hyper-ramp for the rest of the ENTIRE year, I would expect some very strong resistance for AAPL at the declining 200 day MA.