By Andrew Nyquist
Last week, Apple (AAPL) surged through resistance at 590 and didn’t look back. The stock was assisted by analyst earnings chatter and rumors of new products, including the iPad mini.
Technically speaking, the stock has run a bit, but is in good shape. The best near-term risk/reward comes into play as the stock nears 590 (stops just below for traders). Investors can loosen that up a bit, eyeing the rising uptrend line (575-580) as a line in the sand.
Apple (AAPL) stock chart with price support and resistance levels and technical analysis as of July 6, 2012. Measured ABC move. AAPL stock breakout.
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No position in any of the securities mentioned at the time of publication.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.
