Apple shares received a boost from analysts from Goldman Sachs and Morgan Stanley in recent days, sending the stock price right into a potential breakout zone. The stock traded above $156 for the first time since mid-February on Monday. It closed the session at $153.83, up 1.9%. Apple last closed above $156 in September. “The rally has pushed Apple into strong resistance and created a proving ground,” said Katie Stockton, founder of Fairlead Strategies. “It’s a hurdle. If it overcomes it, it’s positive, but chances are it won’t.” Stockton said the level is still an important area to watch. On Friday, Morgan Stanley reiterated Apple stock as a top pick. Then, on Monday, Goldman Sachs placed a $199 price target on the stock and said its service companies could boost it. AAPL 1Y line aapl Stockton said Apple could hit $158, the top of the resistance zone on the chart. But she would like to see two weekly closes above that level and expects that probably won’t happen at this point. If Apple took a step and stayed at a higher level, it would be good for the overall stock market. Apple is the largest US stock by market capitalization and thus has an inordinate influence on the S&P 500 and the Nasdaq. It is also part of the Dow Jones Industrial Average. “Obviously, Apple really influences market sentiment, and so what we’re going to look at at the same time is more of a market sentiment gauge like the VIX,” she said. The VIX, CBOE’s volatility index, closed slightly higher Monday at $18.61, and Stockton said if it meaningfully broke $18.45 and stayed below it, that would send a counter-positive signal for stocks. Scott Redler, partner of T3Live.com, said Apple could send a signal to the broader market. “It will be difficult for SPX [the S & P 500] to be as weak as this works well,” Redler wrote. He said the resistance is $155.50 to $157.50. “You think of Apple, where it was three days ago,” he said. [now] traded in resistance. That was a strong move for it. … I think the next three days are important. You go from $145 to major resistance. Usually it is rejected the first time there. If things go well in the next few days, the next real area will be the highlights of the year. Last year’s highs.” Apple’s 52-week high is $179.61 as of March 30, 2022. “How Apple handles $156 to $157 will give us some clues as to whether this is just another bear market,” said Redler from Federal Reserve Chairman Jerome Powell before Congress could impact the overall market Tuesday and Wednesday.