Apple's stock (AAPL) surged after the tech giant reported quarterly profits, while expecting accelerating earnings in the September quarter despite supply challenges, with the stock rallying 3.28%, or 5.16 points, settling at 162.51, with trading volumes surpassing 101.7 million shares, above 10-day averages of 73 million shares.

The stock pierced the current resistance of 157.25, while buoyed by a positive pattern that formed recently, the Falling Wedge pattern, while also trading above the 50-day SMA, with positive signals from the RSI.

Therefore we expect more gains for the stock, targeting the first resistance of at 168.90, provided it holds above 157.25.

Open Live Trading Account

Expected trend for today: Bullish