Apple (AAPL) Stock Forecast: AAPL breakout continues, $137.07 next target

  • AAPL shares continue to reawaken from post-earnings slumber.
  • Fed talks tough, but equities take it on the chin.
  • Apple shares push above $131 resistance, $137 next target.

Apple stock has finally caught a bid and pushed higher, breaking above some key resistance levels in the process. The Fed on Wednesday managed to persuade markets that it is not asleep at the wheel and that it will take necessary steps to control inflation. Markets obviously were more concerned about the effects of runaway inflation than rate hikes, as ordinarily a rate hike cycle would dent equity enthusiasm. However, the broad indices have suffered only minor losses, and AAPL stock has broken out while the Nasdaq set a new record high on Thursday.

AAPL stock forecast

Thursday's price action, as we can see below in the 30-minute chart, continued the strong channel breakout that began on Monday. 

The daily view below gives some more levels that AAPL stock is now targeting, having broken out of the channel. $131.45 was broken yesterday, the breakdown point after results in late April. From $131.45 to $135.51 is the consolidation 2 zone with a strong concentration of price and volume, meaning it is a heavy resistance zone. Once through here, volume drops off alarmingly above $137.07, meaning the price should accelerate higher to test record highs. 

The risk-reward is now firmly skewed to the upside as Apple shares are trading above the 9-day moving average and have used the 200-day moving average as strong support. 


Like this article? Help us with some feedback by answering this survey:

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD on the back foot below 1.1900 ahead of key EU/ US data

EUR/USD holds the lower ground below 1.1900 amid broad-based US dollar rebound. The dollar benefits from covid woes, ignores Treasury yields pullback. US GDP backs Fed’s resistance to discuss tapering. A busy docket ahead, with focus on Eurozone GDP and US PCE inflation.


GBP/USD remains pressured near 1.3950 amid dollar's rebound

GBP/USD remains pressured around 1.3950 ahead of the London open. The US dollar rebounds toward 92.00 after hitting monthly lows. Virus woes induced risk-off mood offsets Brexit optimism. US data awaited. 


Gold set to test $1850 amid bullish technical setup, US PCE eyed

Gold price rallied nearly $23 on Thursday to reach the highest levels since July 15 at $1732, as the bulls got a fresh boost after piercing through the 200-Daily Moving Average (DMA) at $1821. Gold price settled the day at $1828, well above the 200-DMA.

Gold News

Ripple bulldozes resistance, eyes $1.00

XRP price rebound has taken on an impulsive tone, lifting the cross-border remittances token near the convergence of the 200-day SMA with the longstanding inverse head-and-shoulders neckline around $0.775. Ripple falls short of triggering a double bottom pattern.

Read more

US Core PCE Price Index June Preview: Bad will not be bad enough

Inflation is rampant. Consumers, politicians, and economists have noticed. Even the Federal Reserve has concerns, though not enough to modify the easy money policy that is abetting the increases. 

Read more