Apple Heading Up?

13 Apr 2016

AAPL cleared two hurdles today - it closed over both the 200 day moving average as well as a resistance line that has been capping the stock starting in July 2015. We've had a recent false breakout over the 200 day average before (November 3-4 2015) so we will have to give this a couple of days to make sure it's for real. Also, the stock didn't close over the April 4 high of $112.19. Nonetheless, today's advance is particularly interesting since the break over the 200 day average is coupled with a push through that multi-month trendline. Apple reports earnings in less than 2 weeks, which could be decisive in setting the short/medium term direction.