Readings are overbought, but AAPL’s on a bullish tear with confirmed breakouts based on the descending channel, inverted head and shoulders, and making a new intermediate trend high. Take my commentary with blocks of salt, but I can’t help but notice that all three “breakout types”, all related to today’s action, took several weeks to happen.
Long story short: Chart’s looking really strong, though rest or retrace would seem increasingly due sometime soon. (But maybe that’s just blah stocks like AAPL – not momo favorites like NFLX.)
Zero-commentary charts after the jump. Very convenient that they speak for themselves anyway – my Oppenheimer Code posts are a lot of work.