In One Chart: Apple stock has been in a ‘rising channel’ for 13 years — this chart calls for a breakout soon

Not even a triple-digit drop on the Dow DJIA, -0.62% can derail Apple’s AAPL, +0.97% momentum these days. In fact, with the blue chips in the dumps to start the week, shares of the iPhone maker were up 1% on Monday.

This is a trend that, if it continues, could have serious upside ramifications, according to Chris Kimble of the Kimble Charting Solutions blog.

He used this chart to show how Apple’s stock, which managed to close at a record high on Friday and is on its way to another, has rallied more than 12% in the past 30 days to more than double the performance of the S&P 500 index SPX, -0.13%

Technically speaking, Kimble explains that Apple has spent the past 13 years inside a rising channel and that the recent push has the stock attempting to break through six-year resistance.

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