October 24th, 2014
Published Daily

AAPL – Apple Computer (Last:458.43)

by Rick Ackerman on January 30, 2013 1:49 am GMT

While it’s always possible that Apple has hit bottom, you should check out the chart before jumping in aggressively. A 394.93 downside target proffered here earlier still looks compelling, as does the objective of shorting any rally that reaches the 494.59 midpoint pivot of the pattern shown. There is almost certain to be a struggle if Apple gets there, and so the trade would need to be initiated via camouflage. The good news — or at least, short-term-bullish news — is that the red line looks magnetic and can probably be used as a minimum upside-correction target from here. 

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