After falling from 200 to 120 in January, Apple Inc (AAPL) has been rallying and could possibly be creating a Cup with Handle or inverse Head and Shoulders reversal pattern. These reversal patterns both indicate AAPL could rally to 200 in the near term.

AAPL reported earnings Wednesday and there is still indecision in the market as to which direction it will head. If we see strong upside action today, I would say that AAPL will complete the measured move and rally to 200.



Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.