Monday, 16 November 2015

AAPL - a strong start to the week

Whilst the broader equity market closed significantly higher, there was similar strength in Apple (AAPL), which settled +1.6% @ $114.18, having swung from an opening low of $110.85. First upside target is the $120/121 zone, where the 200dma is lurking. After that... the $132.81 historic high.

AAPL, daily

AAPL, monthly


AAPL remains trading in sync with the main market.. but with stronger % swings.

Best guess... upside into the 120s looks an easy target by mid December.

The ultimate issue is whether AAPL can break new highs by year end.. or early 2016.

If the Fed raise rates (and inspire confidence).. AAPL could push >$132... otherwise... there is serious threat of renewed downside.