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)
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