There have been many disputes over the first 1 Trillion-dollar company. Many say it is Google or Amazon - on the other hand, I say APPLE. The market capitalisation is calculated by (share price X shares outstanding). Currently, APPLE's shares outstanding is 5.09B, so in order for the company to get to 1 trillion dollars, the price would need to reach $196.50....
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A fall back to test the secular trend followed. Since no extended breakdown ensued, a sideways range has been in place ever since. There is a large saucer shaped pattern between $1060 and $1420, which characterizes price accumulation. Our momentum studies also remain in a bearish holding pattern...
The numbers refer to the chart:
1 - TRAK hit 200 EMA and horizontal resistance
2 - Broke through 200 EMA
3 - Met horizontal resistance
4 - Is this the pullback?
So, will TRAK break through the resistance or will it hold? Wait and see.
As there's just been a major Bearish breakout, we must wait for further action before we take a position here. Will price break back inside the level and print a Bullish setup? or will this new resistance hold and and reject price down further? Wait for price action and only engage when it's formed.