Apple Upside breakout

BATS:AAPL   Apple Inc
Strong product lines, and a hoard of cash are factors in Apple's favor. Recent announcement to pay dividend will impact bottom line but not to any worrisome degree. Fundamentally a very strong company and a current favorite of investors and well-capitalized traders alike.

From a technical standpoint, the recent breakout to the upside has positioned AAPL for a second parabolic move that could easily propel it to 1000 ish territory. However, this is not a sure thingl by any means yet.

The chart identifies a current LT Swing Short that is still being sold and will act as resistance to a sustained advance until the short range is definitively broken. This could be accomplished in a few days or weeks, or may never happen, Our analysis favors an eventual resumption of the uptrend and a significant new high before the end of year. All technical factors on the chart support this conclusion, in our opinion. Of course, changing circumstances can alter this analysis, but it will take a significant event to do so.

On the short side, the second short range identified on the chart is an intermediate short entry range. Even if this range is reached and reacted to, we do not expect it to reach it's target but rather to produce a limited retrace counter-trend trade. Time will tell.

Trade the chart and trade safe.

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