The pocket of supply into which AAPL climbed last week could pose a challenge, since the stock’s rise since October has not shown quite the power of Microsoft’s. I offered a possible explanation for this in a previous tout: The coming recession will hit iPhone sales much harder than Microsoft’s software services. In any event, you can use the 193.36 target of the pattern shown to project a minimum upside target for the coming week. Because everyone is bullish and expects this, watch for the move to occur in such a way that it is untradable — on a Sunday night gap, perhaps.
AAPL – Apple Computer (Last:189.69)
Posted on November 19, 2023, 5:17 pm EST
Last Updated November 20, 2023, 8:44 am EST