Apple Apple (AAPL - Get Report) had a mixed year in 2011; while shares rallied more than 25% on the year, the firm lost its visionary co-founder, a man whose vision is largely linked to the company's commercial success. The jury's still out on whether Apple's innovation will remain as driven under new leadership, but recent price action suggests that at least share prices will be.
That's because Apple is currently testing resistance at the $325 range. $325 acted like a strong price ceiling the last two times the firm's stock approached it (in September and October), as eager sellers took gains and swarmed any bids for Apple stock that those lofty levels. Now, though, shares have an opportunity to push through that barrier this week and make new highs.
A breakout in Apple is significant because it wouldn't just be the penetration of a tough resistance level -- it's also a breakout to all-time highs, a scenario that adds a psychological edge to buyers. The fact that the firm's RSI downtend broke late last month provides some confirmation of upside bias. Still, I'd suggest waiting for the breakout to happen before taking a position at these prices.
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