Apple (AAPL) Seeing Bullish Composure Shift

Apple (AAPL) continued higher yesterday, gaining 2.94% and closing well above its 50-day moving average for the first time since March 25th. After the recent three-day move in this stock, it feels like there has been a bullish composure shift in the stock. Extremely strong demand for AAPL’s $17 billion corporate bond offering, the largest corporate bond offering in US history, helped fuel yesterday’s move. Use yesterday’s high of $445.25 as your new short-term point of reference.

AAPL is set to open higher this morning as well. When AAPL is ready to go, it rarely let’s anyone in comfortably. Rallies are followed by gap-and-go days, and next thing you know the stock has run a long way. If it gives you a comfortable pull-back entry, it probably means it’s not ready to go. But right now, AAPL looks like it wants to break definitively out of the macro downtrend.

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Disclosure: Scott Redler is long AAPL

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About Scott Redler 367 Articles

Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader.

Mr. Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Mr. Redler moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, continued to trade actively while working closely with all traders in the firm to dramatically increase performance.

Mr. Redler has participated in more than 30 triathlons and one IronMan, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business, Bloomberg, and he is a regular contributor to Minyanville and Forbes’ Intelligent Investing blog. He has been quoted in the Wall Street Journal and Investor's Business Daily, among other publications.

Scott received a B.B.A. in Marketing/Finance from the State University of New York at Albany, graduating Magna Cum Laude from Albany's School of Business.

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