Last Thursday, AAPL shares broke the downtrend line that prevailed from Nov 28 to Dec 17. The breakout was confirmed on Friday. Short-term momentum is positive as long as prices remain higher than $111. There is resistance in the 114-115 area, but bulls are likely to target the all-time high levels @ 120 in the next few weeks. Thursday’s opening gap and the 50-day SMA in the 109,50 area provide nice support.
AAPL, daily chart (3 months):
Chart courtesy of StockCharts.com. http://stockcharts.com
Please read the Disclaimer!