Apple is closing in on record highs and if several charts are to be believed, the world's most valuable company may soon surge to new highs.
For the last three months, Apple has traded in a tight range between $121.63 and $134.54. But in an otherwise quiet tape, Apple stealthily gained 2 percent last week. And according to top-ranked technical analyst Carter Worth, Apple's charts are pointing to a bullish breakout. "It has been very tight and range-bound," he said. "We think it's going to get out of the range and move up."
Looking at a long-term chart of Apple, Worth sees the stock following an uptrend that has been in place for a couple of years. "We've bounced off the line over and over and over," he said. "The presumption is we're about to bounce once again."