Wall Street's bullish comments push Apple shares to breakout zone.
Apple shares got a boost from analysts at Goldman Sachs and Morgan Stanley in the last couple of days, sending its stock price squarely into a potential breakout zone. The stock traded above $156 Monday, for the first time since mid-February. It closed the session at $153.83, up 1.9%. Apple last closed above $156 in September. "The rally has lifted Apple up into strong resistance, creating a proving ground," said Katie Stockton, founder of Fairlead Strategies. "It's a hurdle.
line aapl Stockton said Apple could get to $158, the top of the resistance zone on its chart. But she would want to see two weekly closes above that level and expects that is not likely to happen just now. If Apple were to make a move and hold at a higher level, it would be good for the overall stock market. Apple is the largest U.S. stock by market capitalization, so it has an outsized influence on the S & P 500 and the Nasdaq. It is also part of the Dow Jones Industrial Average .
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