APH broke out from resistance with volume on Friday July 2nd. The question now is, can it hold.
On Friday, APH gaped up with volume and closed above the 4 month resistance that was forming around the $69.10 area. Not only has APH broken out of resistance, it has also broken out of this ascending triangle.
Making new all-time-highs, breaking out of a long consolidation period with buying power demonstrates that APH is poised to move higher.
I do, however, think that it'll consolidate at this level for a day or two before moving higher.
Final Thoughts:
On Friday, APH gaped up with volume and closed above the 4 month resistance that was forming around the $69.10 area. Not only has APH broken out of resistance, it has also broken out of this ascending triangle.
Making new all-time-highs, breaking out of a long consolidation period with buying power demonstrates that APH is poised to move higher.
I do, however, think that it'll consolidate at this level for a day or two before moving higher.
Final Thoughts:
- Making new all-time-highs
- Broke out of a 4 month resistance
- Steady up-trend looking at the weekly or even monthly charts
- Great long term hold as it also pays dividends
- Look for buying opportunities around the $69.10 to $69.40 area