Maybe, just maybe stocks have taken a turn for the better. If so, we noticed that sectors/industries that share wireless devices in common could be poised for some upside. Apple Inc. (AAPL) could be a beneficiary if we’ve made the correct call.
Much like the overall market, AAPL stock appears to have some new energy. The smartphone giant’s shares recently broke a downtrend and could be headed to its 50-day moving average of $140.07, which is in the same neighborhood as technical resistance.
Shares could make a pit-stop at $135 on their way to the to the 50-day as there is a little bit of a technical lid at that level. In the short-term, the 200-day average of $149.72 is our max range, for now. On the downside, AAPL has support at $125. Swing traders might consider cutting the cord and losses if Apple closes below $125.
Short-term trading is only for the most aggressive investors who can afford to lose money.