Apple showing bullish cup and handle pattern.Stock has potential to move on $450 mark in short period of time. It can be played with a stop loss of $406.Company will be launching iphone 5 this year and it can act as biggest catalyst for growth for Apple’s stock on 2012.But traders must be careful as company will be reporting its revenues by jan 24.If company posts disappointing numbers we might see a slide in stock price.
Supporting article
Apple Inc. (AAPL)’s margins have widened at the expense of its main supplier as Foxconn Technology Group cuts prices to retain orders for iPhones and iPads.
http://www.bloomberg.com/news/2012-01-04/apple-profit-margins-rise-at-foxconn-s-expense.html