Bull Flag Setup in Tech Leader Near All Time Highs
Apple (AAPL) shares formed a bullish reversal candle Wednesday after testing the top of monthly value support at 192 and closing back above the 21 EMA just slightly. AAPL has now formed a bull flag the past two weeks after hitting 199.62 all time highs and now looks to retest that level and finally hit the round number of 200 which could come into early January as new money flows likely push the Tech leader back up. AAPL closing below 190 would be a prudent stop loss level for a short-term trade so a nice risk reward trade idea that can see 7-10 points of upside.