Apple has broken out to the upside

Apple jumped $12 today and has definitely broken out through its resistance line. I expect Apple will quickly touch $550 in the next few weeks. Tomorrow the Apple CEO Tim Cook will unveil the next generation of its tablets–the iPad and iPad Mini and some people even expect more surprises such as iWatch etc. While anything could happen and Apple may jump higher further depending on what Cook will say, please remember that the Street has the habit to buy the rumors and sell the news. I feel it is more likely the share price will come down tomorrow. Since the previous resistance line ($509) becomes now the support line, it will become a good buy again if Apple indeed comes down to the support level. We will see.