Apple Stock Analysis: Charting Patterns Since 1980 And Where It Stands Now

Let’s tackle the Apple (AAPL) stock and provide you with a deep dive on the technical analysis.

Overall the stock sits at 89% of its 52 week range and right on the cusp of new all-time highs here ($243.42 to $345.34). It has a rising trend-line off of its June lows that has held strong, but not overly crazy with how difficult of a time it has had since early August detaching itself from it. There hasn’t been what I would call a hard bounce off of that level, but instead riding the coat-tails of the trend-line higher.

Bug enveloping that rising trend-line is a rising channel as well. Any strong bounce off the rising trend-line would likely see AAPL retest its upper channel band and form new all-time highs in the process. And that is an area that has acted as heavy resistance in the past. I think even more so, what wouldn’t surprise me is with the lack of bounce off of the rising trend-line, if it broke that support, and pulled back to the lower channel band for a potential bounce play.

Now what does the record say? SharePlanner’s Trading Block Terminal has tracked Apple’s chart patterns since 1980, along with more than 3,300 stocks and ETFs

• it completes chart patterns more often than 77% of them;

• its breakouts have followed through better than 59% of them;

• over the past year it has outperformed 60% of the Technology stocks I track;

• it is also calmer than 78% of them, with smaller overnight gaps than 83% and a narrower daily price range than 80%.

In plain terms, Apple hands you plenty of setups, and it tends to move in an orderly way.

Tie all that together, you have a stock that has consistently done well with pattern performance, but does so in a tighter price range and less volatility. That has been the case with Apple for years now as it has managed to find itself as more of a value tech play that tilts slightly defensive.