AAPL is rested and ready to go

Free After-Hours Analysis: 

AAPL popped 5% Tuesday after rumors leaked out the company is increasing iPhone production next year by nearly 30%.

This move breaks the stock out of a four month long consolidation and is the highest the stock’s been since early September.

As I often write, a stock that refuses to go down will eventually go up. That’s definitely the case with AAPL here. After a four month cooling off, this stock is finally ready to make its next move. And given the size of Tuesday’s pop, there is a lot of enthusiasm for this name.

AAPL is buyable as long as it remains above $120 and expect it to challenge the old highs over the next few weeks. And this one won’t just kiss the highs, it will smash through them.

But as always, maintain a sensible stop because there are no guarantees in the market. That said, this one looks as good as it gets.

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