Ahmad Hassam

Apple Stock AAPL Can See $650 Soon

Apple Stock AAPL is showing a wedge formation on its technical charts. According to Richard Ross, Global Technical Strategist at Auerbach Grayson in a recent article published on Yahoo Finance, AAPL can soon see $650.

 
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Lahore, Pakistan -- (SBWIRE) -- 03/25/2014 -- Apple Stock AAPL is showing a wedge formation on its technical charts. Right now AAPL is trading at $543 per share. The tech giant is reportedly talking with Comcast on a deal that could improve the picture quality of the users of Apple’s TV set top box. According to Richard Ross, Global Technical Strategist at Auerbach Grayson in a recent article published on Yahoo Finance, AAPL can soon see $650. This is what he said: “Monday's rally in Apple's stock is enough reason to buy it based on a technical pattern that started at the very end of last year. According to Ross' charts, the stock has been trading in a "wedge" pattern since late December, with the lower part coinciding with Apple's 150-day moving average. A wedge is formed with lower highs and higher lows over a period time, resembling a triangle or wedge.

What we're seeing is a contraction of volatility within that wedge formation," says Ross. "This pattern is not necessarily directional per se but it does tell us that when we get a break from that volatility contraction – an expansion from the pattern – you want to trade in the direction from the break."

Richard Ross explains his technical analysis in detail on the wedge formation in a video. Trading stocks can be a highly lucrative venture. Nicholas Darvas was a ballet dancer and a part time trader in the late 1950s when he performed the incredible feat of turning $3.7K into $2.5 million in 6.5 years. Dr. Scott Brown has developed a FREE Stock Trading Course in which he reveals the true story of Nicholas Darvas and gives a detailed analysis of his Box Breakout Method that he developed that made him $2,000,000 in the stock market.

About Dr. Scott Brown
Dr. Scott Brown is a finance professor. He is a professional trader as well. He has developed a number of online trading courses on how to trade stocks, currencies and futures.

For more information on the video in which Richard Ross explains his technical analysis of AAPL, please visit the following website:

http://topdoginvesting.com/2014/03/25/apple-stock-aapl-can-go-up-by-20/