Shares of Apple (AAPL) notched a new 52-week price high Tuesday and it has not made headlines on the financial cable channels. Let's check and see what it does for the charts and indicators.
In this updated daily bar chart of AAPL, below, I can see that prices largely moved sideways in May before today's jump up to a new high. Trading volume looks like it has declined from early February. The slopes of the 50-day moving average and the 200-day moving average are both positive.
The On-Balance-Volume (OBV) line is close to making a new high for the move up to confirm the price gains. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but largely neutral.
In this weekly Japanese candlestick chart of AAPL, below, I can see some lower shadows on the recent candle bars. This tells me that traders are rejecting the lows and the path of least resistance is higher.
The weekly OBV line shows improvement the past five months. The 40-week moving average line is rising. The MACD oscillator is bullish.
In this daily Point and Figure chart of AAPL, below, I can see the recent rally and a price target of $203.
In this weekly Point and Figure chart of AAPL, below, I used a five box reversal filter. Here the software shows us a possible $285 price target.
Bottom line strategy: Nvidia ( NVDA) seems to be stealing the show today. Let's not ignore the strength in AAPL. Traders who are long should continue to hold those positions. Dips back to $175 could be bought.
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