Apple shares raced into July.
The stock surged 2% on Monday, adding to a nearly 30% advance for the year, after a pause on additional tariffs between the U.S. and China reignited hopes of trade progress.
Apple would need to reach at least $210 to break out above the upper band of its symmetrical triangle pattern. That marks a roughly 4% rally from its current level at less than $202.
“However, the more important level is going to be the early May highs. That’s up right around $212. You break above that, not only will you get a break of the triangle pattern, but you’ll have a nice higher low, higher high sequence which should give this stock another leg higher,” said Maley.
But the real level to watch is the weekly supply at $222, because of the previous sellers at $215, the weekly supply at $222 is just below the monthly supply and the unfilled sell orders waiting near $222.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.