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.
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