Apple Near All-Time High: Two Possible Scenarios Ahead
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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