Apple Inc. (Nasdaq: AAPL) is probably the most well-known company on the face of the earth and is also the largest public company in the world by market cap. Apple hit a 52-week high yesterday, 17 Jan 2017, when its share price touched $120. It’s market cap now stands at over $629 billion.

Have a look at its 1-year chart:

Chart: Financial Times

The question now is: Can Apple break its 52-week high and possibly rise even further? Or will the stock meet with strong resistance and come tumbling down like in October last year when the stock price last reached these levels?

The 52-week high is simply the highest price a stock has traded over the past year. In itself, the 52-week high has NO intrinsic numerical value. A stock trading at its 52-week high doesn’t necessarily mean it’s expensive. In fact, a stock could be trading at its …