Monday, August 6, 2012

Apple Inc. (NASDAQ:AAPL) Extends Rally To Three-Month High

Apple Inc.(NASDAQ:AAPL) shares continued to move higher on Monday for the third consecutive session and closed at its 3-month high of $622.55.

Can AAPL Jump To $1000 Mark This Year? Get Free Trend Analysis

The stock has been showing consistent buying since Jul 27, 2012, when the stock bottomed out of its recent corrections following disappointing earnings. The stock quickly regained above $600 mark on positive notes from analysts and media reports from Bloomberg and Reuters suggest that Apple may launch its iPhone 5 on Septembers 12, 2012. Expectations are very high from the company’s upcoming latest version of iPhone.
In other news, the company has been positive feedback on the ongoing patent case against Samsung. On Friday, the judge has ruled out a portion of the evidences that were presented by Samsung. However, Samsung brought the piece of evidence in front of the jury.

Technically, the stock has now broken above its key short term resistance of $618, which provides bullish signal. In absence of any major resistance, the stock looks bullish and may trigger a new life time high of the broader holds its recent gain. Talking about the support, the stock may be find floor at $618 and $610.

The stock has created higher tops and higher bottoms – very bullish signal from traders’ point of view. All the MACD are showing indicators are showing positive trend with MACD Histogram moved back above zero.

Get Live Updates On The Ongoing Patent Case Here

In the proceedings that took place on Friday, Judge Koh has reportedly reprimanded the lawyers of Samsung and accused them of attempting to taint the jury members. On being chided, Samsung renewed its objection to the previous ruling by stating that the data in the press release was already accessible by public.

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