Apple Stock: Short-Term Trading Opportunity Identified by Carter Worth

Apple's Relative Underperformance

• 📉 Apple's relative performance to the tech sector peaked in September 2022.
• 📊 Since that peak, Apple has gained 36%, significantly underperforming the S&P 500 (up 70%) and the tech sector (up 105%).
• 🚫 This underperformance is described as the definition of "no alpha".

Short-Term Trading Setup

• 💡 Carter Worth identifies a short-term trading opportunity in Apple.
• 📈 The stock has recently moved out of a formation of converging trend lines to the upside.
• 🎯 The objective is to see if Apple can move further into the apex of a second set of converging trend lines.
• 💰 A potential target is the 150-day moving average around the $220 level.
• 🚀 An estimated 6-8% upside is considered possible from the current setup.