The Bullish Case For Apple
After announcing earnings that absolutely blew past expectations and the announcement of a 4-for-1 stock split, shares of Apple absolutely skyrocketed on the Friday to a new ATH of just over $425. After this announcement, many analysts raised price targets on Apple of $450 and higher. This means that they seem to think investors will want to boost their equity in the company as much as possible before the split, and I believe this to be true. As it currently stands, apple looks about ready to pullback and consolidate back into its previous channel that it had maintained for months after the crash in March. With that being said, I think now will be the perfect opportunity to get into some leap calls or long shares and ride the wave to the top. Keep in mind that the split will occur between 8/24 and 8/31. Now more than ever Apple may be the most influential market mover.
**Indicators**
Valid upward trend with an inclining ATR at almost 12
Daily RSI at 73.8, slightly overbought and may present the case for a short term pullback as it looks to fill the channel again.
**Indicators**
Valid upward trend with an inclining ATR at almost 12
Daily RSI at 73.8, slightly overbought and may present the case for a short term pullback as it looks to fill the channel again.
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