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Apple Inc. (NASDAQ:AAPL) shares were trading higher Thursday after the Federal Reserve held its rates constant but raised its inflation expectations for the years 2021-2023.
Seven Fed officials expect increases in rates in 2022, and 13 officials expect rate increases in 2023.
See Also: Why Apple Shares Are Moving Today
Apple was up 1.26% at the close Thursday at $131.79.
Bullish technical traders would like to see the stock continue to build higher lows and hold above the higher low trendline. Bulls would also like to see the stock cross above the $140 resistance level with a period of consolidation above the level.
Bearish technical traders would like to see the stock cross below the higher low trendline for a possible trend change. If the stock can cross below the moving averages, sentiment may turn bearish and the stock may see a strong downward push.
Apple Inc. is a top holding in the following ETFs: Technology Select Sector SPDR Fund (NYSE:XLK), Fidelity MSCI Information Technology Index ETF (NYSE:FTEC), Vanguard Information Technology ETF (NYSE:VGT), ishares U.S. Technology ETF (NYSE:IYW), Direxion Daily Technology Bull 3X Shares (NYSE:TECL).
Photo courtesy of Apple.