Apple Heading Higher?
Wall Street Cheat Sheet submits:
By David Gibbs
Apple Inc. (AAPL) requires little introduction. The designer, manufacturer and retailer of consumer electronics is both a household name and often the apple of Wall Street’s eye. Always the toast of the town for one reason or another, the fast-approaching release of the iPad has been the company’s primary source of momentum as of late.
After trading from the mid-180’s up to about $215 as the last decade came to a close, AAPL began forming a base on January 6th. This base, which turned out to be a cup-without-handle, took about eight weeks to form. This is comfortably above the six to seven week minimum that we would typically like to see. Shares finally broke out on strong volume on March 5th on news that the iPad would be released earlier than the Street had originally expected.
Investing, Long Term Investment, stock market | admin March 30, 2010
RSS feed for comments on this post.
