Apple Inc. (AAPL) short term outlookApple Inc. (AAPL) is exhibiting an ascending triangle pattern on its daily chart, a formation that often precedes a bullish breakout. The chart shows a horizontal resistance level around $235, where the stock has encountered selling pressure multiple times, while higher lows form a rising trendline. This pattern reflects increasing buying interest and suggests a potential upside move if the resistance is decisively broken.
A breakout above the $235 resistance level, particularly if accompanied by higher trading volume, could signal the start of a strong upward trend. Traders may look for confirmation of the breakout with a daily close above resistance, supported by robust volume to validate the move.
For risk management, stop losses could be placed below the ascending trendline or the most recent higher low. Profit targets can be projected using the height of the triangle added to the breakout level, providing potential upside targets in the $245–$250 range.
While this setup is promising, it’s essential to remain cautious and monitor market conditions, as broader market movements or news events could impact the stock's trajectory. Using proper risk management strategies will be critical when trading this pattern.
