Thursday, June 17, 2010

Apple Inc. (AAPL) - Update On Breakout Trade

A couple of days ago I wrote about how Apple Inc. (AAPL) formed a symmetrical triangle and was due to breakout. Well since that post. AAPL has broken out and made a new high for the year today.

The stock indices were in negative territory for most of the day but AAPL held its ground showing us once again how strong it really is relative to the market. This stock remained in positive territory for the whole day and closed near its high. Notice how volume is increasing as AAPL moves higher which is a good sign if you are bullish.

I'd like to see AAPL close above the year high. Once I see that I will post my upside target based on the symmetrical triangle formation. If you would like to read my original post from the other day regarding Apple Inc. you may do so by clicking here.

1 comment:

Steve-o said...

The high was indeed taken out on Friday. I look forward to hearing your target.


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