Bearing Fruit:
The largest company on earth, the only one to achieve a $3T market cap has been carrying a lot of names on its back during this very impressive 2023 run. I was one to think that a sensational headline in itself would be enough to see the stock have a hiccup, but on a technical basis, it has done very little wrong. It displays hallmark bullish traits of trading very taut, as opposed to wide and loose, and it REPORTS earnings next week. Heading into August it has fallen on a WEEKLY basis just 7 times, 5 of them less than 2%, but last week registered a bearish gravestone doji candle at the very round 200 number. Last time that occurred in summer 2022 it took the stock 10 months to recapture that high, and it was the pivot in a WEEKLY double bottom pattern. It has put up FOUR straight positive earnings reactions and I would not be surprised to see this name continue its march higher, ignoring the dubious WEEKLY candlestick 2 weeks ago and the very round 200 number.