Dizkover#StockIdeas: Technical Analysis shows #AAPL could be heading to $590 in few weeks
Updated December 23, 2013 ● 731 views
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Apple (AAPL) has been battered in the past few weeks after it reached the $570 area. It pulled back as much as $540 last Thursday.
But looking at the daily chart gives me a reason to believe it could rebound and head for $590 in few weeks. Plotting Fibonacci retracements on the daily chart shows $590 could be the nearest tartget at 161.8% level.
I see the same price target looking at the hourly chart. The hourly chart, also shows an uptrend channel formed with the current trading price of $550+ sitting at the lower support trendline. It's also just above the hourly 200ema line.
*Remember trade at your own risk. Always do your own research and analysis before you trade.
DISCLOSURE:
UPDATE 12/19: Bought JAN18 570C with stop below the hourly trendline support.
UPDATE 12/23: Holding calls. Up 73%.
Previous AAPL call:
Also Read:
- How To Trade Using Fibonacci Retracements | #FB #TSLA
- How To Trade With Fibonacci Extension? | #YHOO
up 73% on fridays call.
David · 11 years agopermalink · reply (0)
good call! AAPL up more than 3% today.
money101 · 11 years agopermalink · reply (0)