Courtesy of Chris Kimble.
No doubt, Apple remains inside of a 30-year rising channel, reflected in the chart below.
Also, a key “KISS” seems to be taking place as well!
CLICK ON CHART TO ENLARGE
Apple has rallied of late, after a sharp decline that started back in May of this year.
Now Apple is kissing the underside of an old support line it broke in the decline this summer.
At this time, Apple is kissing the underside of resistance at (1) above. This is a key level to see if Apple can breakout above this resistance line!
What Apple does at (1), could tell us a good deal about where it will be at the start of the year and if the Nasdaq Composite index can climb above levels it hit in 2000, which it is hitting right now!
–
–
To become a member of Kimble Charting Solutions, click here.
