(MENAFN- Daily Forex) Potential signal:

• I'm a buyer of AAPL at $226 with a stop loss at $220, aiming for $250 as a target.

Apple gaps higher to kick off the trading session on Thursday, as the rest of the market simply can't be bothered to rise. It's been an interesting session, but it's also worth noting that Apple seems to be more or less an outlier. That being said, it shows just how bullish this stock is, as it managed to fly in the face of what a bit of panic in NASDAQ itself. With that being the case, I think that it bodes well and it's likely that buyers will continue to jump into this market to take advantage of any hints of value.

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The technical analysis for this market obviously is very bullish considering that we gapped higher the way we did, but I also think it's worth noting that the market also gapped above the 200 Day EMA. The market looks as if it is trying to get to the $225 level, an area that had been significantly resistant previously. Because of this, I do believe that you have a situation where if we can break above there, then it's likely that Apple will really take off to the upside. On the other hand, if the market were to break down from here, I would anticipate seeing a lot of support at the 200 Day EMA, which of course is a technical indicator that a lot of people pay attention to anyway. With that being the case, I think you have to be very cognizant of the fact that market participants tend to flock toward Apple sooner or later, and we may be beginning to see that again.

If we were to break down below the 200 Day EMA, then you can argue that perhaps Apple could drop down to the 50 Day EMA, triggering a move to the $280 level. If we were to break down below that level, then I think Apple would have to be reevaluated. At this point though, it doesn't look to be like a market that is going to continue to collapse, so it does make a certain amount of sense that we have this bit of a turnaround. Anything above the $225 level has been buying this stock.

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