Breaking: Apple Inc (NASDAQ:AAPL) Stock Through Resistance -- Technicals Hit Extreme Strength
(AAPL Price of Stock at Publication: $141.63)
Breaking: Apple Inc (NASDAQ:AAPL) has hit maximum technical strength -- watch the technical oscillators for momentum gaps. The company has broken out to a five bull momentum rating -- that is extreme strength and through technical resistance.
The risk now is that the stock is overbought, but as of this moment, the price is moving abruptly higher, through resistance, and the bulls are leading the charge.
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AAPL is up +21.5% over the last three months and up +25.7% over the last six months. The stock price is up +34.0% over the last year. The current stock price is $141.63.
AAPL Stock Returns
If you're looking for the simplest version of this, here it is -- when the short-term moving averages are above the long-term moving averages that indicates relative strength in the technical. Then see the current price relative to the highest moving average and you will have a "back of the envelope" technical indicator in your back pocket for any stock at any time.
The blending and weighting of numbers above created the technical model built by Capital Market Laboratories (www.CMLviz.com). Note the stock price at publication ($141.63), since the technical rating is based on intraday stock prices.
Technicals | Support: 138.99 | Resistance: Stock is Through Resistance
Golden Cross Alert: The 50 day MA is now above the 200 day moving average.
As we noted above -- the back of the envelope rule here is that when shorter-term moving averages move above the longer-term ones, momentum is building. We have that right now.
Swing Golden Cross Alert: The short-term 10 day moving average is now above the 50 day moving average.
When the shortest-term moving average (10-day in this case) moves above any other moving average (50-day in this case), momentum is climbing.
We can set aside oscillators, stochastics, and any other precise measure of momentum, this is easy to see: Apple Inc has a five bull (highest rated) technical rating and may be having a technical breakout right now because it's trading through resistance.
We now turn to the actual numbers driving this rating:
Apple Inc (NASDAQ:AAPL) rating statistics:
10-day moving average: $140.21
50-day moving average: $132.09
200-day moving average: $114.31