We’re currently sitting just below an enormous resistance point – and potential double top for Apple Inc. (AAPL) at $176.
The next level above that is $180… and after that, we’re looking at new all times highs for the stock.
After reporting wonderful earnings, things are still going great for the company.
What’s really interesting here is that if you look at how the stock performed over the last few months, we’re definitely in an uptrend with higher highs and lower lows…
Friday, we did see a little bit of selling, but AAPL was able to hold the support of $170. If the share price drops below that level, prepare for some downside – at least down to $165.
But if we can hold at $170 for the next few days, I see that overall as a bullish sign.
As I mentioned last week, the MACD has been lacking momentum. I’m curious to see if it will begin to unwind back to the upside.
We’ll see how it all played out when I check back in next Monday.
Enjoy your week!
Micah
