Apple Inc. (AAPL) is a key stock to watch because it has such a heavy weighting in the NASDAQ and at times can often give us clues as to what the NASDAQ may due in the future.
Above is a daily chart of AAPL and as you can see this stock is consolidating at a very important resistance level which comes in around 620. The stock is forming a bull flag pattern which suggests that if AAPL is able to take out last week's high, there is s good chance this stock may test the April high of 644.
The NASDAQ (QQQ) is also showing a similar consolidation pattern where we have the last 3 days all trading within Tuesday's range which in my opinion tells me this market is ready for a breakout. Will that breakout be higher? Well that remains to be seen.
On Friday Apple Inc. (AAPL) closed at 621.70 up .97 from the previous day's close.