Apple Moving Above Resistance

Published on Monday, 06 February 2012 06:00 Written by Danny Miller

New York, February 6th (TradersHuddle.com) - Shares of Apple, Inc. (NASDAQ:AAPL) closed the trading session at $459.68 just above calculated resistance at $458.99 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets personal computers, tablet computers, mobile communication devices, and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, and a variety of distribution channels. Apple through its ITunes store sells third party music and video content, its applications store sells Apple's own and third party software applications for its iPhone iPad, and iPod products.

Apple's stock was trading in a well defined range with support at $363.32 and resistance at $458.99, given that this range was broken traders will be closely monitoring the stock