AAPL Surfing the 50 day up
The interesting thing about the current $AAPL chart, is that it is a neutral pennant pattern with the 50 day SMA line creating a rising support, and the upper resistance trend line declining. A close above the upper trend line, or a close below the 50 day SMA, will create either a bullish buy signal or a bearish sell signal.
The $AAPL chart appears to be positioned for a breakout next week.
The 50 day line is a bullish buying opportunity for monster stocks. $AAPL is a growing and cash flowing behemoth.
With the current $AAPL chart pattern and the overall market’s recent bullish behavior, there is a high probability of a breakout, and trend back to all time highs.
The 50 day line is the dip buying opportunity, and a break above the trend line is a momentum buy signal. A close under the 50 day negates the bullish bias of this chart.
