Apple, Inc (NASDAQ:AAPL) closed up 2.5% higher on Monday, just shy of a $3 trillion market capitalization the stock briefly reached intraday. The move was in continuation of a strong fourth-quarter 2021, where Apple soared over 27% higher.

Although the multinational technology company climbed over 40% last year in total, analyst Gene Munster believes Apple will be a top FAANG stock in 2022. Munster, Andrew Murphy and Doug Clinton discussed what surprise they believe Apple may have in store to drive continued growth this year.

Munster and Murphy predicting the MR Headset, Apple's first mixed-reality product, would be Apple’s most notable product. Clinton on the other hand believes Apple may begin to focus more on its electric vehicle development.

On Tuesday, when the market opened, Apple briefly printed a new all-time high of $182.94 before falling slightly lower. The stock may need to trade sideways in consolidation for a period of time before attempting a blue-sky run.

See Also: Apple Car To Come Prepared For Blackouts? Here's What iPhone Maker's Patent-Filing Suggests

The Apple Chart: Apple could print an inside bar pattern on the four-hour chart or even the daily-chart on Tuesday in order to consolidate Monday’s move higher. The inside bar pattern would lean bullish because Apple was trading up higher before creating the pattern.

Tuesday morning’s price action also allowed apple to back test the previous all-time high of $182.13 printed on Dec. 13. The back test of the area, if Apple holds above it, may provide an entry for bullish traders not already in a position.

Apple’s relative strength index (RSI) is measuring in at about 68%, which could pose a concern. When a stock’s RSI reaches or exceeds the 70% level, it becomes overbought, which can be a sell signal for technical traders. It should be noted, however, that Apple’s RSI has been above the 60% level for much of the past six weeks.

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