Apple is a great buy once it exceeds 240!
- The stock experienced an extended period of consolidation, during which it formed several bullish chart patterns, including the Double Bottom and Rounding Bottom.
- After the price broke above the neckline of the Rounding Bottom, the stock surged to reach an all-time high close to the 237 level.
- Since then, it has retraced nearly 17%-18%, returned to its support level.
- Now, with a robust rebound underway, the stock is approaching its resistance zone, and there are strong expectations for a significant breakout.
- The optimal buying opportunity lies just above the 240 level.
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