AAPL - battling upward

Whilst the broader market began the week on a moderately weak note, there was notable strength in tech, with Apple (AAPL) settling +0.9% @ $118.98. The near/mid term outlook is bullish to the $120/125 zone. The April 2015 historic high of $131.29 looks set to be broken at some point.


AAPL, daily

AAPL, monthly

Summary

Without getting lost in the minor short term noise, I'd suggest anyone note price structure on the giant monthly cycle. Upper bollinger is offering the $125s in the near term, although that would still be some 5% below the 2015 high - back when the sp'500 was maxing out in the low 2100s.


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Pete Najarian on CNBC highlighted a MS target for AAPL of $148.

That seems viable by late 2017, but assumes no sig' market retraces >10%.