Apple Set To Create A New All-Time High!
Apple continues to perform well, despite being range-bound for 4 months
between May and September 2019.
Prior to the consolidation, we saw a rise of 52% from the beginning of the year.
After such strong rallies, it is not unusual for price to slow down or pull back sharply
as there would be exhaustion amongst the buyers.
A deep pullback or long period of consolidation does not write off a stock, it just
indicates that patience needs to be applied before looking for more trading
opportunities in a particular stock.
There are certain indications that a stock is completely reversing which we cover
in the video links below. But as you can see with Apple, after price broke out of
consolidation and broke above the $200 psychological round number,
the trend resumed and looked strong rising 22%.
We have recently seen a pullback, but price has found strength again and looks set
to make a new all-time high. If a high is made then we will continue to look for
trading opportunities here and profit from the rise in Apple.
between May and September 2019.
Prior to the consolidation, we saw a rise of 52% from the beginning of the year.
After such strong rallies, it is not unusual for price to slow down or pull back sharply
as there would be exhaustion amongst the buyers.
A deep pullback or long period of consolidation does not write off a stock, it just
indicates that patience needs to be applied before looking for more trading
opportunities in a particular stock.
There are certain indications that a stock is completely reversing which we cover
in the video links below. But as you can see with Apple, after price broke out of
consolidation and broke above the $200 psychological round number,
the trend resumed and looked strong rising 22%.
We have recently seen a pullback, but price has found strength again and looks set
to make a new all-time high. If a high is made then we will continue to look for
trading opportunities here and profit from the rise in Apple.
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