Use the pattern shown to do some tightly stopped bottom-fishing at the 143.95 target. Based on price action late in Friday’s session, that’s a logical minimum downside objective for the near term. If AAPL surprises by turning higher as early as Monday, the rally would need to surpass the ‘external’ peak that I’ve labeled at 156.06 to get the stock’s bullish juices flowing again. However, merely closing above 152.21 would imply that buyers are well capable of this. We should turn cautious again at 158.40, however, since that is the ‘D; target associated with the 152.21 midpoint pivot noted above._______ UPDATE (Jun 13, 12:08 a.m. EDT): The stock overshot the 143.95 downside target by 1.44 — reason enough to be skeptical of the bounce from Friday’s lows. In any case, it’ll need to surpass 149.18 before we’re obliged to take it seriously. _______ UPDATE (Jun 13, 6:05 p.m.): Use the pattern shown to get long via a mechanical bid at 146.02, stop 145.14. You’ll be shooting for 148.64, but save a round lot for a swing at the fences, since, if the stock exceeds the 149.18 ‘external’ peak from Friday, the rally could get legs.
