Apple Eyes Crucial Breakout Test
Chris Kimble | Feb 21, 2020 03:56PM ET
While the trend for Apple (NASDAQ:AAPL) is definitely higher, the question is whether the stock Is facing a key price test to determine if the trend remains the same.
h3 Short Answer/h3The chart looks at AAPL on a weekly basis over the past 5 years. The company has created a series of higher lows and higher highs, which has created a rising channel (1).
A key breakout test is in play for Apple (NASDAQ:AAPL) at (3). Bulls would love a successful breakout at this key price juncture.
On the flip side, Apple (NASDAQ:AAPL) bulls would receive a discouraging price message if selling takes place at this key breakout price point. I think that Apple will send an important message by what it does at (3).
Stay tuned.
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