Apple is poised for a big move

As I said many times, Apple is a great stock for long term. It is fundamentally strong and cheap with a huge upside potential in the long run. But Apple has been moving sideways for a few weeks and now it is poised for a big move, one way or the other. As you can see below, Apple has been consistently showing high lows and low highs lately and at the moment, it is right at the tip of the so-called descending triangle. It has to break out either to the upside or downside. Technically speaking, most often this pattern will lead to an upside breakout. When this happens, it will be a big move and may quickly challenge its all time high at $133. Of course there is no guarantee. If it breaks down, the next support will be around $120 and then $112. We will know very soon.