Apple (AAPL) Technical Chart

Apple (AAPL) Technical Chart

Apple Inc (NASDAQ:AAPL) surged higher this morning, hitting a 52 week high of $229.93. Just a week ago, $AAPL was up here and reversed, put in a topping tail. Topping tails are notoriously bearish top signals. Investors are often confused about how to analyze the topping tail from a week ago when the stock makes a new high like today. I will tell you the answer.

The key is looking at the daily close. Where does the stock price of Apple (NASDAQ:AAPL) close today? If it closes above the topping tail high from last week, then any bearishness is negated and the chart is fully bullish. However, if the stock sells off back below the topping tail high from a week ago, then the bearish topping tail maintains its bearish power.

Currently, Apple (NASDAQ:AAPL) is selling off back below the high, topping tail pivot but the day is not over. Watch the close. A close above or below $228.20 (the topping tail high) will give investors everything they need to know.

Apple (AAPL) Technical Chart

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.