AAPL 113.79 – bullish – Range breakout triggers further upside
AAPL rallied through the 20/50 day moving averages and then the 112.75 range ceiling (October 12, 2015) to confirm a 3-week range breakout. The 20/50 day moving averages now reverts to support, underpinning further upside towards 116.89/117.65 (September 14/August 17, 2015 highs) near 61.8% of the 132.97/92.00 fall. Above lies the 200 day moving average currently at 121.37. 112.10 (October 15, 2015 high) provides immediate support ahead of the 20/50 day moving averages currently at 111.62/112.16 respectively.
Outlook:
Daily: bullish
Weekly: bullish
AAPL rallied through the 20/50 day moving averages and then the 112.75 range ceiling (October 12, 2015) to confirm a 3-week range breakout. The 20/50 day moving averages now reverts to support, underpinning further upside towards 116.89/117.65 (September 14/August 17, 2015 highs) near 61.8% of the 132.97/92.00 fall. Above lies the 200 day moving average currently at 121.37. 112.10 (October 15, 2015 high) provides immediate support ahead of the 20/50 day moving averages currently at 111.62/112.16 respectively.
Outlook:
Daily: bullish
Weekly: bullish
