Apple Looking Good Historically!
As the S&P 500 continues to show strength, we can see that stocks are showing signs of strength
as well and one of them includes Apple.
Apple, like many stocks, suffered a huge decline in February and March of this year as a result of the
pandemic, suffering a 35% decline but it has now recovered by climbing up 47%.
We experienced a bullish April and so far in May price has moved up 2,700 points and may move up
a lot more by the end of the month.
Price has moved above a major resistance level which is now support at the $300 round number and
is now approaching the current all-time high.
The all-time high is from the January 2020 high which stands at $327. Things could get interesting if and
when price reaches this level because if it can successfully break above it, we should see a strong uptrend unfold.
The markets are looking good right now and they may continue to do so but we always have to trade with caution.
As we are currently in a pandemic, the markets may still become volatile which is why we are standing aside for now.
Once the S&P 500 breaks out to the upside then we will have the confirmation we need to enter long trades.
To get a better understanding of our approach then register for our free 4-Part Series with the link down below.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
as well and one of them includes Apple.
Apple, like many stocks, suffered a huge decline in February and March of this year as a result of the
pandemic, suffering a 35% decline but it has now recovered by climbing up 47%.
We experienced a bullish April and so far in May price has moved up 2,700 points and may move up
a lot more by the end of the month.
Price has moved above a major resistance level which is now support at the $300 round number and
is now approaching the current all-time high.
The all-time high is from the January 2020 high which stands at $327. Things could get interesting if and
when price reaches this level because if it can successfully break above it, we should see a strong uptrend unfold.
The markets are looking good right now and they may continue to do so but we always have to trade with caution.
As we are currently in a pandemic, the markets may still become volatile which is why we are standing aside for now.
Once the S&P 500 breaks out to the upside then we will have the confirmation we need to enter long trades.
To get a better understanding of our approach then register for our free 4-Part Series with the link down below.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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