I’m extremely bullish on AAPL (here’s why)

We saw this analysis from world-renowned Apple trader, Micah Lamar, and wanted to pass it along. Happy Trading, The CTU Team

Right now, AAPL is not far off from its all-time highs (at $180) — and AAPL continues to show a tremendous amount of relative strength compared with the Tech sector. What this suggests is that AAPL has become a store of value. In other words, people are hiding their money in AAPL. Just look at these two headlines from CNBC:

With everything going on in the markets this year (interest rates, inflation, and so much more), AAPL really hasn't dropped that much. The company remarkably continues to grow. They beat a lot of their earnings estimates. And I think the stock could go much higher from here. Yes, shares dropped a bit on Monday. But the market is often soft on Mondays. If AAPL can get above and stay above the highs from Friday, I'm looking at the next resistance point around the $165 level. Above there, I'm looking at $170 and $180 beyond that. Right now, I'm incredibly bullish on AAPL. And I'd like to show you how I plan to trade it. We just entered a new Perfect Apple Trade, and I fully expect we will have several more in the near future. If you'd like to know how I use just two indicators to trade every major cycle higher on AAPL, check out this brief presentation where I reveal everything.

Hope you have a great week and don't forget the Fed update Wednesday afternoon. Trade safe, Micah Lamar

Happy Trading, The CTU Team

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