Apple Stock Price Surge Triggers Buy Signal

apple stock price reversal higher buy signal trading chart april 8

Apple stock (AAPL) has reversed higher and triggered a buy signal.

AAPL stock price is now trading above its regression trend channel.

This trading setup is similar to what we saw on Facebook stock (FB) last month. I’d expect price to trader higher up to our target around $142 (taking profits along the way.

If necessary, one could hedge their long Apple stock play with a short QQQ. In any event, I like the stock here and would buy dips. I will abandon the trade on any move back into the regression trend channel.

The author or his firm 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.

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