AAPL to test 2 key resistances this week.
As shown on this chart, the bullish channel is held so far (congrats to the bulls). This week, if the uptrend still holds, we will be forced to test the resistance at SMA 200 and resistance at $469 (highest of the previous peaks). If there is break out, we should be on our way to fill our gap at $500. Official iphone announcement could provide the fuel to break $500. However, if the announcement fails to impress, expect to be rejected at $500.
Disclaimer: I am long at $462.XX.
As shown on this chart, the bullish channel is held so far (congrats to the bulls). This week, if the uptrend still holds, we will be forced to test the resistance at SMA 200 and resistance at $469 (highest of the previous peaks). If there is break out, we should be on our way to fill our gap at $500. Official iphone announcement could provide the fuel to break $500. However, if the announcement fails to impress, expect to be rejected at $500.
Disclaimer: I am long at $462.XX.