Apple rose this week on the back of news of the company's new AII (and its product announcement at the Worldwide Developers Conference).
Basically, we hope that the new AI initiatives will spark a new round of product upgrades for its user base. This is something new versus what were minor improvements in the camera or other services.
Technically, the price broke out of an up-and-down trading range that has confined the stock between $165 and $200 since April 2023. Non-trend crossovers, and if so, the trend is back with the breakout this week. This is very important..
What then?
Trends tend to be “fast, directional, and tend to go further than traders think” (or expect). If so, this week's move is only the beginning.
If the goal is to stay in the trend, it is important to know when the price action is not trending anymore. Technology tools will help tell this story.
In this video, I discuss breakouts and more importantly identifying where a trend is at risk. As long as the described technical levels are not breached, buyers and the trend remain intact. We all want to ride this trend.
Furthermore, if you want to be aggressive in a correction in order to “enter” the trend or add to your position, I would summarize the low-risk levels on a correction, that would be a good level/area to buy the stock “to sell”.
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