There are a lot of reasons that hint toward a bullish sentiment, while TCC will be discussing the key reasons that hint a new benchmark today
Published By: Ken Bock on January 10, 2017 08:00 am EST
iPhone maker Apple Inc.’s (NASDAQ:AAPL) shares recorded a new 52-week high level yesterday, though it seems that they are all set for a new benchmark today. The Country Caller notices a lot of optimism in the before-market trading hours as shares of the $641 billion company continue to trade higher at $119.13 as on 7:14 AM EDT. There are a lot of reasons that hint toward a bullish sentiment, while TCC will be discussing the key reasons that hint a new benchmark today.
Short sellers are dull than ever as short interest has recently dropped by 22%, which is positive development for the bulls. Moreover, the options market also increase the odds of a bullish sentiment as very little activity can be seen in the put options. Apart from the trading scenario, a lot of positive developments have emerged recently which include the initiative to produce data centers for its internal use.
The upcoming earnings release is also going to be vital for investors, as analysts are weighing on high sales numbers for the latest iPhone variant. Moreover, other business segments have also reported significant growth in recent times, their contribution to the topline will also be worth watching.
That being said, January has historically been a sluggish month in terms of share price movement, as we observed a downtrend in the last two years. However, the recent developments suggest that the scenario is a lot more favorable for the Cupertino-based company.
Whatever the case maybe, TCC suggests that the current momentum shall continue today, while we may also see a new upper limit to the day. Later on, we may see a pullback in share prices if the bears get in action. However, the odds of such a scenario are quite less.