AAPL is on an attempt for a breakout above $124 - $125 with renewed positive sentiment and relatively strong momentum that started on Nov 24 -- so accumulating for couple of weeks now
i have marked the next 2 price projections - if AAPL can break the $124 and stay above that price level, our projected next stop would be $130-$131, then from there, a possible bullish scenario may take us to $158 around the time for next earnings in Jan - this gives an upside of around 25% (and yes, it takes AAPL's market cap up to ~2.5T)
the weekly view supports this scenario - my only issue on the weekly chart is, that while the momentum looks strong, the "prevailing sentiment" is not yet bullish enough (the green area marked by the yellow circle on the UTO) - that may mean that the expected move still needs to consolidate for few more days (maybe more) to collect enough steam.
Note that AAPL had a lot of positive news (new and exciting products) recently and is expecting a strong quarter that may be further helped by the holiday shopping - also that AAPL has yet to move above the split price level (was $124.8)
Disclaimer: I am long AAPL - This is just a possible scenario with mathematically calculated projections - no one can predict the future - please trade carefully and adjust to your risk tolerance.
feel free to share thoughts.
i have marked the next 2 price projections - if AAPL can break the $124 and stay above that price level, our projected next stop would be $130-$131, then from there, a possible bullish scenario may take us to $158 around the time for next earnings in Jan - this gives an upside of around 25% (and yes, it takes AAPL's market cap up to ~2.5T)
the weekly view supports this scenario - my only issue on the weekly chart is, that while the momentum looks strong, the "prevailing sentiment" is not yet bullish enough (the green area marked by the yellow circle on the UTO) - that may mean that the expected move still needs to consolidate for few more days (maybe more) to collect enough steam.
Note that AAPL had a lot of positive news (new and exciting products) recently and is expecting a strong quarter that may be further helped by the holiday shopping - also that AAPL has yet to move above the split price level (was $124.8)
Disclaimer: I am long AAPL - This is just a possible scenario with mathematically calculated projections - no one can predict the future - please trade carefully and adjust to your risk tolerance.
feel free to share thoughts.
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and........ there we go ...
