Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
On Tuesday, Apple, Inc (NASDAQ:AAPL) broke up bullishly from an inside bar pattern Benzinga pointed out on Monday. The stock has been working to erase the losses caused when Apple printed a fourth-quarter revenue miss on Oct. 28, which caused the stock to fall about 4% the following day before rebounding.
Apple has also seen some unusual option activity, and on CNBC’s “Halftime Report,” Pete Najarian noted traders had purchased 50,000 call contracts with a strike price of $152.50 and a Nov. 5 expiry. At the time Najarian made the comments, Apple was trading at about $148, but by late morning the stock had already soared up about 1.5% higher over the $150 level.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
See Also: How to Buy Apple Stock Right Now
The Apple Chart: Apple broke up from a falling wedge pattern on Oct. 6 and began trading in an uptrend. The move was propelled by Apple reacting bullishly to a double bottom pattern created when paired with the price action on Oct. 4, where the stock hit and bounced up from the $138.27 mark.
Since breaking up from the patterns, Apple has traded in a fairly consistent uptrend, aside from bearish earnings reaction. Apple’s most recent low sits at the $148.49 level and the most recent higher high is at $153.17. Apple will need to create a higher high above the level in the coming days to continue the trend.
Apple is trading above the eight-day and 21-day exponential moving averages (EMAs), with the eight-day EMA trending above the 21-day, both of which are bullish indicators. The stock is also trading above the 50-day simple moving average, which indicates longer-term sentiment is bullish.
- Bulls want to see sustained big bullish volume push Apple above the Oct. 26 high of $150.84 and then for the stock to make a higher high. Apple has resistance above at $152.40 and near the $154 area. Beyond the levels, there is no further resistance until the all-time high of $157.26.
- Bears want to see big bearish volume come in and drop Apple down below the $150 level, which could put it in danger of losing support at the eight-day EMA. Below the levels the stock has further support at $147.79 and $144.53.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.