How Much Higher Can Apple Go?
Companies / Tech Stocks Sep 23, 2010 - 02:50 PM GMTBy: Mike_Paulenoff
With Apple (AAPL) at $292 or so, many are wondering how much higher it can go from here. Purely from a technical perspective, both the measured upmove off of the July-Sep base formation and the Aug-Sep bullish price channel point to 295.00, with overshoot to 298.00-300.00.
Can Apple climb still higher? Sure it can, but the technical work is warning us that we have reasons to suspect that the next 1% to 3% will represent the final upticks of the current advance prior to a meaningful correction.
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By Mike Paulenoff
Mike Paulenoff is author of MPTrader.com (www.mptrader.com), a real-time diary of his technical analysis and trading alerts on ETFs covering metals, energy, equity indices, currencies, Treasuries, and specific industries and international regions.
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