• Apple broke major resistance level 144.65
• Likely to rise to resistance level 147.50
Apple recently broke the major multi-month resistance level 144.65 (which stopped the sharp uptrend at the start of this year, as can be seen from the daily Apple chart below).
The breakout of the resistance level 144.65 follows the earlier breakout of the wide up channel from March – which accelerated the active impulse waves 3 and (C).
Given the clear daily uptrend – Apple can be expected to rise further toward the next resistance level 147.50 (target price for the completion of the active impulse waves (iii) and (c)).