Stock of the day: Apple

In today’s Stock of the Day, we’re taking a look at Apple (AAPL), which is once again setting up for a potential breakout — this time, from a tight pennant formation.

Looking back, the chart shows a larger symmetrical triangle, marked with green lines, that ended with a bullish breakout in late June, triggering a strong buy signal and driving the stock higher.

Now, the price has consolidated again — this time in a smaller pennant pattern, marked with red lines. The structure is similar in shape to the earlier triangle, but tighter and shorter in duration. Importantly, the price is nearing the apex, meaning a breakout is imminent — potentially even today.

• A break above the upper red line of the pennant would serve as a bullish continuation signal, aligning with the dominant trend and potentially extending Apple’s rally.

• A break below the lower red line would mark a short-term sell signal, indicating a deeper correction is in play.

The technical pressure is building, and the breakout — in either direction — should offer clean directional momentum for short-term traders.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-apple-21