Apple shares log a fresh all-time high closing level on February 14th, previous record intraday high also broken

Apples stock marked its new highest close on record on February 14th, supported by expectations that the release of a 10th-anniversary iPhone will prop up the companys sales.

Apple shares gained 1.30% ($1.73) to $135.02, or a closing price that exceeded the prior record-high close of $133.29, recorded on February 13th. Tuesdays session also marked the seventh gain in the past eight trading days and the best daily performance since February 1st. The stock touched an intraday high of $135.09 to mark a fresh all-time high. The prior record intraday high was at $134.54, registered on April 28th 2015.

In the week ended on February 12th the shares of the technological company added 2.36% to their market value compared to a week ago, which marked the sixth consecutive period of gains. The stock has extended its advance to 11.26% so far during the current month, following a 4.77% surge in January. The latter has been a second straight month of gains. For the entire 2016, Apple shares appreciated 10.03%.

The stock recently traded at 14.3 times expected earnings, or a level unseen since April 2015. It also exceeded the average price-earnings ratio during the past 5 years (12.0), data by Thomson Reuters showed.

Market players largely bet that Apples 10th-anniversary iPhone will turn out to be a tremendously enhanced model.

“We’re holding it, we look for opportunities to buy”, Jeff Carbone, co-founder of Cornerstone Financial Partners in Charlotte, North Carolina, said, cited by Reuters. “Consumers feel better, people spend more money. Theres still a lot of good to come from Apple.”

Meanwhile, according to a filing by Warren Buffetts Berkshire Hathaway, the company more than tripled its stake in Apple to 57.4 million shares during the fourth quarter of 2016.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Apple stock are presented as follows:

R1 – $135.19
R2 – $135.36
R3 (Range Resistance – Sell) – $135.53
R4 (Long Breakout) – $136.03
R5 (Breakout Target 1) – $136.62
R6 (Breakout Target 2) – $136.88

S1 – $134.85
S2 – $134.68
S3 (Range Support – Buy) – $134.51
S4 (Short Breakout) – $134.01
S5 (Breakout Target 1) – $133.42
S6 (Breakout Target 2) – $133.16

By using the traditional method of calculation, the weekly levels of importance for Apple Inc. (AAPL) are presented as follows:

Central Pivot Point – $131.32
R1 – $133.74
R2 – $135.36
R3 – $137.78
R4 – $140.20

S1 – $129.70
S2 – $127.28
S3 – $125.66
S4 – $124.04