This headline stock remains in a long-term uptrend, but the stock is currently digesting a sharp run to new highs. Price is well above the Ichimoku Cloud, confirming that the primary trend remains bullish. The cloud ahead is green and rising, suggesting longer-term support continues to strengthen. All of this is pointing to a great trade opportunity.

The recent pullback from above $310 appears to be profit-taking rather than a trend reversal. Here’s what that means and how to trade it.

Last week’s candle was large and bearish, but this week’s smaller candle suggests selling pressure may already be easing. The key area to watch is the $275-$280 zone. Holding above that level would keep the current uptrend intact. A break below there could lead to a deeper retracement toward the upper edge of the cloud near $260.

The Distance from 52-Week High indicator is only about 10.8% below the high. Historically, Apple often finds renewed buying interest once this indicator bottoms and begins turning higher after a pullback. The recent uptick suggests buyers may already be stepping back in.

Wishing you the best,

Wendy