Chart of the day

Where do we stand fundamentally?

AAPL has turned to AI technology recently which is expected to drive revenue higher. Also, China's iPhone shipments have jumped 40%. That is why we have seen a rise in stock prices and should extend higher.

AAPL is testing the strong upside resistance of 220. A break above this resistance is required for a continuation higher in the fifth wave. Support for this extension higher is 190.

An invalidation level of a fifth wave extension higher is 160. We need to see a confirmed break higher above 223 to an extension into 280.

_{Look for a long trade entry with a stop loss below 215 upon a break above 226.}