Apple (AAPL) Outlook For October 1, 2014

On Tuesday, AAPL opened with a gap up, staying over the psychological $100 mark. The MACD is still on a sell mode but the stock just needs a close above $101 to turn the technical picture into positive. AAPL has been range trading between $98 and $103 in the last month and I gues that a breakout over is the most possible scenario. The 50-day MA is offering critical support @ 99 and as long as it stays intact, chances favor a re-visit of all time highs for AAPL soon.

AAPL, daily chart:

AAPL_20141001

Chart courtesy of StockCharts.com. http://stockcharts.com

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