Apple Inc.(NASDAQ:AAPL) ended higher by for the third session on Monday and rose 1.34% to $630 to close at 4-month high of $630. Most importantly, yesterday AAPL broken out after months of consolidation and has shown solid rebound at lower levels, which shows investors are bullish on the stock and find it cheap at every fall? Going forward, the stock may face psychological resistance at its life time high of $644, once it breaks the trend is likely to be continued and we may see another record high for AAPL.
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The company is highly anticipated to launch its iPhone5 in the mid of September, which should limit the correction in stock price going forward. The stock has already gained 55.50% so far this year.
ResMed Inc.(NYSE:RMD) is on the verge of strong breakout which may push the stock further higher. The stock ended higher by 1.03% to $36.26 on Monday. The stock needs to break above its 52-week high of $36.34. The stock has already gained over 14% so far this month following 3 –month consolidation. Traders need to watch for near term resistance before taking call on the stock.
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