Apple (AAPL) has been on an incredible run since the start-of-the-year blunder, up some 30% relatively unimpeded. There are some downside gaps in the chart, though, and that may be taken care of down the road.
For now, the upside is in favor, even if the stock pulls in a bit. The 10-day moving average is decent support here and has held stiff for most of March.
Those upside gaps in the chart below are better targets to fill (yellow lines).
The 20-day moving average (dotted) and the 50-day moving average are even better areas of support and even a 50% retracement from the recent high to the lows in early January.
Moving Average Convergence Divergence (MACD) is still on a buy signal, and the momentum indicators have stalled but are giving you a decent chance to enter the name here.
The stock battled back above the 200-day moving average last week but that was exhaustive. Volume was elevated a bit toward the end of last week, indicating a bit of a stall.
We expect that consolidation to be short-lived, however, followed by the stock going right back up through $200 before too long.