Chart of Apple Inc. ( AAPL) – Apple’s Surge Slices Through 200-Day Moving Average – Source: TheTechnicals.com and TradingView

Apple Inc. (AAPL) gained an impressive 3.68% on Thursday. In the process, the stock sliced through its 200-day moving average and closed above this widely-watched indicator for the first time since mid-November. AAPL was certainly buoyed by a very bullish market overall on Thursday after Wednesday’s highly accommodative Fed decision. On top of that, though, buyers also rushed into Apple’s stock ahead of next Monday’s much-hyped “it’s show time” special event.

Apple’s Special Event

During this upcoming event, Apple CEO Tim Cook is expected to unveil two new subscription services. One is a highly-anticipated video service that will compete with Netflix and Amazon. The other is an all-in-one news service for iPhone and other Apple devices.

Ahead of this special event, major research firms upgraded their ratings and/or targets for Apple’s stock. This included Needham, which upgraded AAPL from a “Buy” to a relatively uncommon “Strong Buy.” Needham also raised its price target for the stock from $180 to $225. The stock is currently trading around $195.

The Technicals for Apple

As the chart above shows, Apple has been rallying off its lows since early January. This rally occurred after the stock took a massive tumble from its all-time high in the fourth quarter of last year. If the stock is able to maintain its position above its 200-day moving average, the potential for a full recovery and return to bull market territory becomes increasingly likely.