Apple Inc. (AAPL) Moving Higher Despite Flat Futures
Apple Inc. (NASDAQ:AAPL) Moving Higher Despite Flat Futures
Apple Inc. (AAPL) is bucking the trend early, the stock is moving higher as futures for Wall st signal a slightly lower open, today the Japan’s Nikkei average dropped in heavy trade after the central bank’s third dose of monetary stimulus disappointed the market and triggered profit-taking, although the index managed to end above 10,000.
European shares were flat as new signs of friction in U.S. budget talks stopped investors from buying on multi-month highs on key regional indexes.
Yesterdays options trading in AAPL seen a sharp uptick, the put/call ratio and the open interest was negative over the last month but has turned dramatically after AAPL hit our strong buy zone.
This should see the strength of the last few days continue and stock begin moving higher yet again.
There is still a disproportionately large short interest in AAPL that should come back to market to buy AAPL on a break of $543.
$543 is the battle line with out any doubt, short interest and options traders are gathered around this point, a break above that number may see a fast move higher.
Support is strong at the $523 level and there is no real resistance going forward, we do not see much between here and $583.
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