Tuesday, 13 September 2016

AAPL - a second big push higher

Whilst the broader market took another swing to the downside, there was extremely notable resilience and underlying upside power in Apple (AAPL), which settled higher by a very significant 2.4% @ $108.02. Next target remains the 110/112 zone.

AAPL, daily

AAPL, monthly


AAPL sure did stand out today against the main market.

Broadly, AAPL remains on the cyclically low side, and there is a very viable 3-4 weeks of comfortable upside... into Q3 earnings.

So long as the main market holds together... aka... no price action <sp'2050, the outlook remains bullish.

In theory, AAPL to $120s by year end looks an easy target.. with new historic highs (>131) more viable in late spring/early summer 2017.