Shares of Apple Inc. (NASDAQ:AAPL) may be on the verge of a big move higher. Since July 12, shares have been consolidating or trading sideways. This has formed a triangle pattern on the chart.
The top of the range has been around the $150 per share level. Apple’s stock is now close to the top of the range and it’s testing this resistance.
If it trades at a higher price, it will show that the sellers who created the resistance have finished their orders. With this large supply of stock taken off the market, buyers will be forced to pay higher prices. This could force the shares into a rally.
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