Apple Climbs Higher In Channel Pattern: Is The Stock Headed For Blue Skies?
Portfolio Pulse from Melanie Schaffer
Apple Inc's stock (AAPL) climbed 0.9% higher on Friday, continuing its momentum after bouncing up from the bottom trend line of a rising channel pattern on Wednesday. The bounce also formed a double bottom pattern near the $170 mark, which is a reversal indicator that suggests the stock is likely to rebound again.
May 26, 2023 | 2:35 pm
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Apple's stock (AAPL) is showing a bullish trend with a double bottom pattern near $170, indicating a potential rebound and continued uptrend.
The double bottom pattern near the $170 mark is a reversal indicator, suggesting that the stock is likely to rebound again. This pattern, combined with the rising channel pattern, indicates a bullish trend for Apple's stock. If the stock continues to trade within the channel and regains the median line as support, it could be headed for a new all-time high over the coming weeks.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100