Potential signal:
- I am a buyer of AAPL at $265, with a stop at $263, and a target of $271.50
Apple’s stock remains in a solid uptrend, with $260 acting as key support and $270 as the next resistance range. Ahead of next week’s earnings call, traders favor buying pullbacks or breakouts, expecting continued though gradual bullish momentum.
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Apple had a positive session on Friday, with the $260 level continuing to act as solid support. If the stock can break above $265, it is likely to target $270 and possibly even $280. Overall, Apple remains in a clear uptrend, and short-term pullbacks appear to offer opportunities to reenter long positions. The stock has been climbing steadily since August, following a period of healthy consolidation.
The upcoming earnings call next Thursday will be a major event for the market. Apple’s reports often create short-term volatility, depending on commentary about future plans. However, even when a sell-off occurs during earnings, the market often attempts to resume its broader uptrend in the following days. I think this is the way forward, but this assumes that we get the pullback, which might not even be the case.
As one of the largest and most influential U.S. stocks, Apple’s performance significantly affects the broader indices. Other major technology names frequently move in sympathy with Apple’s price action, amplifying its impact on the sector.
There is also a price gap near $252 that provides strong support, reinforced by both the trend line and the 50-day EMA. With these technical factors in place, the stock remains bullish, though gains may be more gradual than explosive. Traders are likely to focus on buying dips or the next confirmed breakout, with the upcoming earnings report likely determining Apple’s next major move. This will be yet another leg higher at this point in time. This is a situation where we will eventually get bullish pressures, and that will lead the rest of the market higher. At this point, I have no interest in shorting this stock, or any others, to be honest, as we are bullish in general.
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