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Apple Inc. (AAPL) Stock: A Powerful Breakout Is Nigh

Apple has hoisted itself up over a couple of pieces of technical resistance

Tech giant Apple Inc. (AAPL) has been in the news for its conflict over encryption and privacy with the government, but it’s about to be at the center of attention for a very different reason. AAPL stock is on the cusp of a very powerful technical breakout of a multi-month consolidation range, setting the stage for the first major uptrend in Apple shares since October.

Apple AAPL stock chart
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AAPL stock has been on the slide since last summer for a number of reasons. But primarily …

However, shares recently have pushed above the 50-day moving average around $98.50. Investors are beginning to warm up to the stock ahead of a March 15 product event expected to debut a new 4-inch iPhone as well as a new iPad lineup.

And this is merely a prelude to the big iPhone 7 launch later this year.

Plus, it’s worth remembering the company is pushing ahead of bigger initiatives such as a virtual reality/augmented reality effort as well as the much heralded “Project Titan” electric vehicle project.

The next earnings report will hit on April 25 after the close. Analysts are looking for earnings of $1.99 per share on revenues of $52.01 billion.

If shares can stay above the 50-day moving average, as well as price resistance around $101, consider all of these events as things that could help propel Apple higher to the next line of resistance.

Already, the March $100 AAPL calls recommended to Edge Pro subscribers are up more than 30% — and are poised for huge gains on a possible run at the stock’s 200-day moving average. That would be worth a 12% gain in the common and a whopping 750% gain in the calls.

Anthony Mirhaydari is founder of the Edge and Edge Pro investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.

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