Apple (AAPL) Outlook For October 23, 2014

AAPL made a new record intraday high yesterday but could not retain its gains and closed slightly up on the day. The daily trend will be positive as long as price trades higher than $101. AAPL is on the verge of a breakout from the 98-103 range of the last 2 months, which opens the door to $108. Another positive is that the stock shows relative strength opposite the rest of the market. Overall I remain very bullish on the stock.

AAPL, daily chart(3 months):

aapl23

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

Please read the Disclaimer!

RECEIVE MY TRADING REPORT FREE OF CHARGE FOR 2 WEEKS BY SENDING ME AN E-MAIL AT: THETRADINGSTRATEGIST@YAHOO.COM !!!