Apple hit an all-time high earlier today and is near some key levels on its daily chart.
On Friday the stock completed a bullish " cup and handle " pattern we cited on Dec. 20 . AAPL is now in the midst of a bullish " pennant " pattern we reported last Wednesday , which is shown in orange on the chart we below and has a potential upside to the $435 level.
The current formation would be invalidated if shares drop below the $406 area. AAPL is trading at $423.92 this afternoon, off its lifetime intraday high of $427.75 from this morning but still up 0.36 percent on the day. The company is scheduled to report earnings results on Jan. 24.
(Chart data provided by Thomson Reuters)
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