AAPL Weekly (7/27/13)

BATS:AAPL   Apple Inc
180 0 0
AAPL             has been taking a beating in the 7 months. The stock has been pushed down by the powerful down trending resistance line. Multiple attempts (red arrows) were made but none consistently broke the resistant line. In the past 4-5 weeks, we are seeing the build up of another attempt in breaking out this resistance.

What's different about this one? Couple of things.
(1) Fundamentally, AAPL             is perceived to be stronger, as new products are expected to be release in the next few months. Iphones have been selling well (better than Samsung despite of having older models), above the low expectations. These suggest that the AAPL             ecosystem and products are more attractive and more resistant to "market saturation" that many of the analysts were worried about.
(2) Technically, AAPL             is making a more consistent uptrend (going up 4 weeks in a roll). This is something we haven't seen for awhile. Overall, the bullish sentiment is more resilient this time (partially fueled by the recent earning report). In addition, the MACD histogram is trending up. There is convergence on stochastics (higher lows on both stock prices and stochastics on the most recent bottoms). These are bullish .

Where are we going next week?
This chart demonstrates intersection of the support and resistance lines. There will be a breakout one way or the other. I expect there to be a bullish breakout. Next week is the key here. Watch carefully. Once the resistance line is broken, the next resistance will be $460. The next significant resistance will be around $490-500. Stay tuned.

Disclaimer: I am long AAPL             .
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out