“There’s no two ways about it, 2017 has been a magnificent year to be an Apple Inc. shareholder,” Jonas Elmerraji writes for TheStreet. “Since the calendar flipped to January, shares of Apple are up more than 50%, more than triple the return of the rest of the S&P 500 over that same time frame.”
“As Apple heads deeper into the seasonally strong holiday quarter, consumers are being greeted by a product catalog that includes a pair of popular new iPhone models, and analyst estimates that could make it the firm’s most profitable quarter in history,” Elmerraji writes. “But that’s not the immediate-term driver in shares of Apple right now.”
“Instead, it’s the price action that’s signaling buyers are still very much in control of things for this tech giant this fall,” Elmerraji writes. “To figure out how to trade it, we’re turning to the chart for a technical look.”
Full article, with the marked up chart, of course, here.
MacDailyNews Take: Ahh, the gory entrails.
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]