APPLE INC. - On The Way to Reach Its Previous High at $118.70 - 12/20/2016 (GMT)

The Apple Inc. (NASDAQ: AAPL) has been in an uptrend since June 2016 rising 24.6% up to $118.70 before it had a big retracement down to $104.00, finding support on the aforementioned psychological level and the 200-SMA on the daily chart. Looking to the most recent candles, the stock recorded eight straight winning days surpassing both the 50 and the 100 SMAs on the daily chart while during yesterday’s session created the first negative day.

The stock surpassed the $116.20 strong barrier and the successful penetration of $116.20 will bolster the price up to $118.70, the previous high. The RSI is rising towards its 70 level, though with strong momentum while the MACD oscillator is rising above its trigger line, in the positive territory endorsing our bullish view.