Apple Inc. (AAPL) has been moving sideways since May, stuck in a tight trading range. It’s been following a classic rectangle pattern — showing that the market hasn’t quite made up its mind.
Today, AAPL finally broke out of a pennant pattern, giving traders a reason to look up. But the real test is still ahead: the stock is once again bumping into the $214.5 resistance level — the same spot where recent rallies have lost steam.
Apple’s P/E ratio is sitting at 33.2, which feels a bit stretched. That could explain why some investors are hesitating, waiting for stronger earnings or a new catalyst to justify higher prices.
If Apple can break above $214.5 with strong volume, it might kick off a new leg higher. Until then, the stock could keep drifting in this range. The breakout is promising — but not convincing just yet.
(Disclaimer : This is not financial advice. Always do your own research)
Today, AAPL finally broke out of a pennant pattern, giving traders a reason to look up. But the real test is still ahead: the stock is once again bumping into the $214.5 resistance level — the same spot where recent rallies have lost steam.
Apple’s P/E ratio is sitting at 33.2, which feels a bit stretched. That could explain why some investors are hesitating, waiting for stronger earnings or a new catalyst to justify higher prices.
If Apple can break above $214.5 with strong volume, it might kick off a new leg higher. Until then, the stock could keep drifting in this range. The breakout is promising — but not convincing just yet.
(Disclaimer : This is not financial advice. Always do your own research)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.