Apple has broken out of the ascending triangle on daily TF - after 1.5 months of consolidation - no big selling appeared into yesterday's close and bullish price action was observed (+3% on the day).
However Apple also sits at resistance of the ATH trendline from Sept '20 and Jan '21 highs - if it breaks above this TL I expect bullish continuation.
Using the flag pole method to determine a breakout target gives $170 as a level to look for. Some might even argue that the flag pole should start at $123 level yielding a potential target level of $175.
Will be watching price action at the ATH trendline closely over the next few days...
However Apple also sits at resistance of the ATH trendline from Sept '20 and Jan '21 highs - if it breaks above this TL I expect bullish continuation.
Using the flag pole method to determine a breakout target gives $170 as a level to look for. Some might even argue that the flag pole should start at $123 level yielding a potential target level of $175.
Will be watching price action at the ATH trendline closely over the next few days...
Note
AAPL has finally hit $170!Although it did see a pullback from the 2020-2021 massive wedge...
Seems it is now breaking up out of this wedge - however the question is whether this will continue into the year end of pullback into the wedge with daily RSI entering into overbought territory
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.