Apple’s latest success, the iPhone 6, only hit the markets on Sept. 19, but its stellar performance preceded it by several months.
Apple resumed its uptrend back in May and marked record highs in September. Meanwhile, its cost-cutting phone rival, Samsung dug deeper to over two-year lows. There is little reason to expect these two stocks to change their trajectories.
Technicians surely noticed the sideways phase in which Apple was stuck in the first quarter. Following its split in April, the famed stock exploded higher and never looked back. The breakout from the sideways market confirmed the formation of a bullish pennant; Apple reached the target of this bullish continuation formation in September.
Apple and Samsung moved fairly similarly between June 2013 and June 2014. Since then, Apple marched higher, while Samsung accelerated losses. This divergent behavior has suggested putting on a spread of long Apple and short Samsung. This spread is trading at around $100.
After muscling its way up to record highs, Apple has been consolidating. It remains strong since breaking the top of its rising channel in July. A special Fibonacci method suggests a target of 109 and this target coincides with the extrapolation of half of its rising channel.
Apple resumed its uptrend back in May and marked record highs in September. Meanwhile, its cost-cutting phone rival, Samsung dug deeper to over two-year lows. There is little reason to expect these two stocks to change their trajectories.
Technicians surely noticed the sideways phase in which Apple was stuck in the first quarter. Following its split in April, the famed stock exploded higher and never looked back. The breakout from the sideways market confirmed the formation of a bullish pennant; Apple reached the target of this bullish continuation formation in September.
Apple and Samsung moved fairly similarly between June 2013 and June 2014. Since then, Apple marched higher, while Samsung accelerated losses. This divergent behavior has suggested putting on a spread of long Apple and short Samsung. This spread is trading at around $100.
After muscling its way up to record highs, Apple has been consolidating. It remains strong since breaking the top of its rising channel in July. A special Fibonacci method suggests a target of 109 and this target coincides with the extrapolation of half of its rising channel.