AAPL Stock what to expect
AAPL has been on the move and has come up to 590 where it is trying to go up against its 200 day moving average at 598. AAPL is now forming an ascending triangle as with the chart above. That is intraday and bullish in nature. We intend to continue with AAPL till 650 or so in next few days of weeks which ever comes first. Click to enlarge chart.
This is a recovering stock that was insanely sold off due portfolio re-balancing and the shorts got in. It got sold off again on the election results hitting the lows at 505.
But the company is not going anywhere. It has great fundamentals and lots of cash on the balance sheet. Innovation is what they do and any other company will envy to be in their shoes.
This is an institutional stock and widely owned by everyone. We have taken a bullish bias here. Lets see if it gets over 598 the 50 day and 600 the psychological barrier anytime soon. That is what we have been patiently waiting.
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