AAPL looked poised to move higher after spending Wednesday consolidating the previous day’s strong gains. We are using a 168.33 target for the stock, which if achieved would likely drag the broad averages along with it. The target lies $5 above current levels, and at the rate the stock has been rising it could take another 3-5 days before it is reached. It is a very important price objective that has been more than four years in coming, and if and when it is touched we should be prepared not only for a trend reversal in AAPL, but in the stock market as well.
AAPL on Track to Achieve Long-Term Target
- September 1, 2017, 9:33 am
Projected Slingshot volatility high point target:
Below are the numbers for the ‘barn door opening’ towards volatility in the INDU and SPX major market indexes.
INDU target slingshot high = 22757.88 in 16 trading days from low of 08292017.
SPX target slingshot high = 2564.39 in 16 trading days from low of 08292017.
These levels will begin the ending process of a series of highs points to create a turning point in market behavior towards the downside.
Have a great Labor Day Holiday Rick!