AAPL Ready for a Breakout Following ConsolidationSummary:
AAPL has displayed impressive strength over the past several months, consolidating in a tight range and maintaining a bullish posture. The stock has recently held firmly above the NETGEX level for multiple sessions, signaling robust support and momentum.
Breakout Potential:
Currently trading at $243, AAPL is approaching critical levels, with $245 and $250 identified as key resistance areas. The $250 level aligns with the highest NETGEX and call wall, making it a pivotal target for a potential breakout. If the stock clears these levels with volume confirmation, it could initiate a multi-week upward trajectory.
Support Levels:
Should AAPL face any pullback, $240 is likely to provide strong support, reinforcing the stock's bullish structure. Additionally, the $227.5 level is a critical threshold—anything above this area will maintain the overall bullish outlook.
Key Levels to Watch:
Support: $240, $227.5
Resistance: $245, $250 (NETGEX high/call wall)
Conclusion:
AAPL's consolidation phase appears to be nearing its end, with a breakout becoming increasingly likely. The $245-$250 zone represents the next significant challenge, while $240 provides a strong base for continued momentum. Keep an eye on these levels for confirmation of the next leg higher. A breakout above $250 could mark the start of a sustained, multi-week rally, especially considering December seasonality.