Exclusive: Technical Analyst Says Apple is Poised for "Breakout"

Anne-Marie Baiynd was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick. Tune in to the daily broadcast live Monday-Friday at 8 a.m. ET here.

Technical analyst Anne-Marie Baiynd said on Benzinga’s #PreMarket Prep that Apple Inc. (NASDAQ: AAPL) is “going to breakout,” though the analyst cautioned that it may not “get up and run” higher. Instead, Baiynd said that she expects the stock to meet some resistance in the $131 to $132 range.

Between that $131 and $132 range, which the stock is currently pushing up against in the wake of Carl Icahn’s latest comments, Apple will need to “prove itself,” said Baiynd. But, those comments certainly don’t hurt, she added.

Baiynd was ultimately skeptical as to whether Apple has the momentum to breach prior highs at $134.54, which the stock last saw in February and late April. Instead, however, Baiynd pointed to GoPro Inc (NASDAQ: GPRO) as a stock that could be poised for a “run.” GoPro is a “great story,” she added.

The full interview is available below.

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