We’ve been using a rally target at 1842 for quite some time, but with this update I am going to shift our sights higher, to 1912.86. This Hidden Pivot resistance looks like a good bet to be achieved, possibly within the next 7-10 days, because of the way buyers shredded the 1739 midpoint pivot. Although a pullback from p2 (1826 here) can often be fatal, my hunch is that it won’t be this time, since price action over the last two weeks looks accumulative rather than distributive. _______ UPDATE (Apr 23, 11:55 a.m.): Assuming the stock can get past 1923.57, a secondary Hidden Pivot shown in this chart, we should used D=1982.86 now as a minimum upside objective for the near term. _______ UPDATE (Apr 29, 11:03 p.m.): The 1982.86 target is sufficiently compelling that you should consider buying some near-term, out-of-the money puts when the stock gets there. This recommendation is for subscribers who have held a long position for at least a portion of the move up, which has been in increments that matched bullish targets provided here over the last seven weeks. _______ UPDATE (May 8, 9:05 p.m.): Buyers appear winded, so expect them to take this behemoth lower before they make yet another attempt to reach 1982.86. A fall to 1845.63 would generate the first bearish impulse leg we’ve seen on the daily chart since December.
