Apple could be stair-stepping toward a potential breakout as a big month approaches.

The first pattern on today’s chart is the pair of rallies and pullbacks since early August. Both times the smart-phone giant bounced at a 50 percent retracement of the upward move. (See the green arrows.) Does that reflect the presence of an uptrend?

Next, AAPL is holding above its 21-day exponential moving average and 50-day simple moving average. That may reflect the presence of bullish uptrend.

Third is the 2023 high of $199.62. The stock broke through that resistance in June after announcing AI support at its Worldwide Developers Conference. It then found support around that old resistance last month.

The first AI features are expected to appear in October, along with quarterly results. Traders looking for a breakout may look to those catalysts for cues.

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FibonacciMoving AveragesSupport and Resistance

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