By Lawrence G. McMillan
Apple ($AAPL) has just triggered a buy signal based on our weighted put-call ratio, one of our more reliable sentiment-based indicators for this stock. Historically, these signals have generally preceded intermediate-term rallies in $AAPL, and the current setup looks promising.
From a technical perspective, $AAPL recently broke out of its short-term downtrend, forming a series of higher lows and consolidating just beneath resistance. That resistance has now given way, and the next logical upside target is the 200-day moving average.
The chart at the top of the page shows the weighted put-call ratio and its recent buy trigger. Below, the price chart illustrates the technical breakout and rising trend structure.
These Put-Call Ratio charts, and a list of new daily signals, are published daily as part of The Strategy Zone, our do-it-yourself research product designed for active traders and investors.
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