Over it CNBC’s “Options Action”, Carter Worth of Cornerstone Macro spoke of a bullish technical setup in Apple Inc (NASDAQ: AAPL). He noted that Apple peaked on September 2 and has remained unchanged since then, while the S&P 500 has gained over 7%. The stock fell 25% in two weeks after peaking and has since returned to its previous high. In principle, this is a setup for reaching new highs, Worth said. He also noticed a bullish wedge pattern and a cup and handle pattern on Apple’s chart. Worth thinks the stock will go up to $ 150.
To make a bullish bet, Mike Khouw wants to buy the $ 140 June call for $ 13 and sell the $ 155 March call for $ 3. The total cost of the trade is $ 10 and the distance between two strikes is. $ 15. The trade also breaks down to $ 150.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- According to this source Apple Inc. (NASDAQ: AAPL) – Carter Worth and Mike Khouw think Apple is headed higher
- Check the more updates related to Apple Tips and Apple news now.
I hope you love this news please Share your love by following us on Facebook and Twitter for the latest apple news information and updates like Apple Inc. (NASDAQ: AAPL) – Carter Worth and Mike Khouw think Apple is headed higher
from our channels.