apple swing trading

Apple (AAPL) has been by far one of the most hated stocks of 2013 – but that may soon change.

Whether it is from $7.00 to $4.43, $70 down to 43.30 or in the case of Apple (AAPL) going from $700 to today’s price of $443.30 in the past 10 months or so, investors and traders alike are undoubtedly going to be hesitant to go near the stock. 

However, recent developments are boding well for Apple, and for the purposes of this post, I just want to focus on the technical aspects of the stock. 

There are four major developments, and the two biggest ones being the break of the long-term down trend from September of 2012 that we saw occur in late April and soon after breaking the downtrend, AAPL tested the top sided of that downtrend and held the support level quite impressively. 

Then of course you have a huge basing pattern that resembles a well defined inverse head and shoulders pattern that can be great for spotting a longer-term bottom in the stock. 

There are a few secondary developments to keep an eye on for AAPL going forward as you’ll see in the chart below, but overall, I think we may see a very positive second half of the year for Apple and an opportunity to start chipping away at the past year’s declines. 

Here’s the chart for my outlook in Apple (AAPL).

Apple outlook for swing trading

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