This controversial stock is up 23% since I first highlighted it.
Now it’s set up again for another big move, and if the market pulls back, it’s likely to hold steady.
You probably use its products every day, but do you own its stock?
I call Apple (AAPL) controversial because there is such a divide amongst traders about whether its best days are behind it or yet to come.
The stock’s chart reflects this disagreement. It’s had to rally over 25% just to get back to its 200-day moving average.
It may only be at its 200-day moving average, but it’s had to out-perform the market in 2019 to get there.
Now that it’s consolidated at the 200-day and had time to react to its latest new product announcement event, it’s time for it to make its next move.
If it breaks out over $193.25 the next move up should begin.
An attractive characteristic of this trade is that it should also have a good stop under $186. If you want to give it a little more room, you could use under $184.
Furthermore, it has the opportunity for a big options play.
AAPL will announce earnings on April 30th so if you’d like to take a flyer (which means this trade could lose 100%). The June 210 calls could offer a 300%+ trade.
The idea is to buy the 210 calls on a breakout and sell half if they double. This would leave you with free trade going into earnings.
If you are not familiar with how to trade options, please don’t experiment with this trade.
Rick Nartarian, Chief Investment Officer
The American Investor Daily