Apple (AAPL) Outlook For October 21, 2014

On Monday AAPL had its third upday in a row. It opened with a gap and closed at intraday highs, a bit below the psychological limit of $100. The daily trend is now positive and will remain so as long as price trades higher than $99. On a medium-term basis AAPL is still inside the 98-103 range of the last 2 months. Given the stock’s relative strength opposite the rest of the market, I still favor AAPL as a “buy” and stick with my scenario of new price records before year-end.

AAPL, daily chart(3 months):

aapl20141021

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

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