Chart shows APPLE stock will go up

If you thought about buying APPLE stock, the time might be now. As this chart pattern shows [cup-with-handle pattern]

[On the chart,] APPLE stock broke up a cup with handle pattern and the stock price might rise to $114 a share, which is the next resistance level. The stock is in a positive momentum, current price (104.58) is close to this year high price $105.

On Tuesday March 15. Morgan Stanly estimated that more IPhone unites will be sold early this year. Putting APPLE sales views on the spotlight for 2016.

SPDR technology ETF is on a positive momentum as well, as the [chart below suggests]. With price 3.7% above 200MA and PPO indicator at positive territory of 3.718%. The ETF busted higher on March and as long the recent support levels hold, the Bullish sentiment is valid.

@TuongThuc

Hope your right - tech stocks have been very good to me of late.

Long may the Robinhood effect continue!

Looks like it dropped a little today actually. Maybe they didn’t like what they heard during the Apple event? :woman_shrugging:

@ponponwei

One reason I take all predictions with a giant grain of salt is they rarely give a time frame of when this is going to happen

Anyone can draw a few lines on a chart and say it’s going up or down - few can tell you when - which is what most of us want the know

I suppose if they did they’d be charging money for it. Even then though… Anyway, good for you that you’ve been making $$$ lately! How long do you think can this uptrend last it’s really insane!

@ponponwei

How long do I think this uptrend will last?

I have no idea - I just follow my systems I’m really not that clever to know how far it can go.

My hope is it last a long time. Tech is one of the easiest ways to make money, mainstream investors love tech, it’s too big too fail, and parts of the industry are massive beneficiaries of the lock down.

The moves can be stunning (unlike Forex) and it’s not hated like Gold is

The trade is getting rather crowded these days I admit - and there will be a day of reckoning but o have no idea when.

I will in closing say that the presidential year is generally good for the markets, inauguration is worst in the 4 year cycle.

So if I was a gambling man we sell off either after the election or in January.