Apple has been a large-cap leader in the latest bull market run higher.
It hasn’t been a rocket ship, but rather a slow an steady move higher.
BUT considering its market cap, Apple’s (NASDAQ: AAPL) move higher has been a major reason that the market continues higher.
Let’s look at the chart.
Note that the following MarketSurge charts are built with Investors Business Daily’s product suite.
I am an Investors Business Daily (IBD) partner and promote the use of their products. The entire platform offers a good mix of tools, education, and technical and fundamental data.
$AAPL Apple Stock Chart
Apple broke out over $250 and rose to $277 before consolidating. This consolidation has price at the 20-day moving average, but still above the 50-day moving average. Let’s see if this leads to a another breakout.
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
