Apple (AAPL) has been hitting higher highs and higher lows in a stair step formation over the last few months – with 3 steps forward and 2 steps back.
Now, we’ve just tagged one of my top resistance points… $176. If AAPL can get and stay above $176, the next stop will be at about $180.
Above $180… we’ll be looking at $184 – which gets us to new all-time highs.
I’d be surprised if AAPL doesn’t reach new all-time highs by August. July and August historically and seasonally are two of the most bullish months of the year.
What’s interesting here is that the Worldwide Developers Conference is in June, and we generally see a little bit of selling.
So I’m curious to see if we’re going to continue up into that conference, and then maybe see a selloff the week of the event.
If so, that may set up the stock for a really nice bounce through July and August.
For right now, we’re firmly bullish.
Until next Monday, enjoy your week!
Micah
