Apple Near All-Time High: Two Possible Scenarios Ahead

Binni Ong
10-16

Last night, $Apple(AAPL)$ attempted to reach its all-time high but closed with a doji formation. This doji suggests profit-taking at the highs.

Apple stock cup and handle pattern

Currently, the chart pattern for $Apple(AAPL)$ shows a cup and handle—a bullish continuation pattern often seen in fundamentally strong stocks. However, the price has not yet broken out above the all-time high to complete this pattern.

Bullish Scenario

If the price stays above $231 (the magenta line), there’s potential for an upside breakout (Long DLC $APPLE 3xLongSG261006(MACW.SI)$ will gain if the underlying stock rises).

Bearish Scenario

If the price falls below $231, this bullish breakout attempt could fail (Short DLC $APPLE 3xShortSG261006(PODW.SI)$ will gain if the underlying stock declines).

Keep an eye on the reaction around $231. [Miser]

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voteWill Apple break above All Time High?(Single choice)
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Modify on 2024-10-23 10:37

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Comment（3）

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  • wimpy
    ·10-16
    TOP
    Have you considered the possibility of a sideways movement?
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    • Binni Ong: 
      It’s possible, but based on my past experience with a cup and handle formation, the upcoming earnings report on October 31 is crucial. Typically, if prices manage to stay near the top of the range, an upward breakout is most likely.
      10-17
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  • YueShan
    ·10-17
    Good ⭐️⭐️⭐️
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