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.
If you find these posts useful, please return the favor by liking and sharing them!
Sign up for FREE Email Alerts to get profitable insights like these delivered to your inbox every evening.
What’s a good trade worth to you?
How about avoiding a loss?
For less than $1/day, receive actionable analysis and a trading plan every day during market hours
Follow Jani on Twitter @crackedmarket
Jani Ziedins (pronounced Ya-nee) is a full-time investor and financial analyst that has successfully traded stocks and options for nearly three decades. He has an undergraduate engineering degree from the Colorado School of Mines and two graduate business degrees from the University of Colorado Denver. His prior professional experience includes engineering at Fortune 500 companies, small business consulting, and managing investment real estate. He is now fortunate enough to trade full-time from home, affording him the luxury of spending extra time with his wife and two children.