While the Apple Haters Were Hating, the Stock Rallied to this Key Technical Level

As we reported on Monday, Apple AAPL has had its glut of press coverage lately. Even for Apple it feels like coverage is off the charts (pun intended).

But while everybody was busy eulogizing Apple—you know, like Reuters did with the very much alive George Soros last week, the stock was staging a stealth rally.

READ: Reuters Published Obituary of Famed Investor – But He's Alive

In fact, since it reached a bottom of $390.53, the stock has rallied six percent and is only $4 away from testing its upper trend line resistance level of $418. If the stock can convincingly break out, that will clear it to retest its 50 day moving average at $434.

READ: Apple Broke Down-What Do the Charts Say Now?

Before getting too excited, it’s worth noting that Apple still doesn’t have strong sell volume behind it. The charts don’t indicate that sustained upside is imminent but Apple will break out at some point. The longs have their fingers crossed.

At the time of this writing, Tim Parker was long Apple.