Finally Seeing the Big Bullish Breakout for Apple AAPL

Sep 15, 2016: 10:31 AM CST

Apple (AAPL) showed impressive relative strength to the market this week and we’re seeing that bullish dominance continue with a breakout and birth of a new uptrend.

Here’s the Weekly Chart and the new bullish phase emerging for Apple (AAPL) shares:

For a bit of quick background, see my post “Apple Bucks the Bear Day” – which was our first major clue.

Correctly detected, we noted how strong shares were performing against a strong “second collapse” day.

We live by the statement “That which is Strong tends to get STRONGER.”

Strong stocks tend to see more bullish gains and Apple is a great recent example of that concept.

What now?

We’re seeing price break above a blue trendline into August and then retest this trendline into September.

This week we’re seeing a new swing high and thus the birth of a NEW Uptrend into late 2016.

Focus on the $110 level and as long as price continues to move “up away from” this pivot, we could see further action through the open air zone toward the $120 high and possibly (eventually) toward the $130 high.

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Corey Rosenbloom, CMT

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1 Comment

One Response to “Finally Seeing the Big Bullish Breakout for Apple AAPL”

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