Tuesday, October 05, 2010

Apple Inc. (AAPL) - Watch For A Rally To 300


Last month Apple Inc. (AAPL) rallied above the previous high from June which means that June high should now act as support and that is exactlyy what we are seeing take place now. Twice AAPL tested this support area and both times the stock snapped back higher confirming that there are buyers in the 275 to 280 range.

Technically the overall market (S&P500 and NASDAQ) are moving higher which should support AAPL and trigger a breakout once again to new highs. The most likely near term target for this stock would be the psychological 300 level which will be watched by many traders.

Apple Inc, (AAPL) closed today at 288.94 which was up 10.30 (3.70%) from Monday's close.


No comments:

DISCLAIMER

This site may include market analysis. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Trading and investing involves high levels of risk. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.
 
Google
Technorati Profile Finance Blogs - Blog Top Sites