AAPL has been rallying through a 4-month to 118.69 (October 10, 2016 YTD high) before pausing. Given the momentum, scope remains for further upside. A break above the 118.69 would confirm channel breakout and open 123.82 (November 2, 2015 lower high) next. Above the latter would suggest further strength to challenge the significant 132.97/134.54 (July 20, 2015 lower high/April 27, 2015 all-time-high).
However, a downside break below the 111.55 would dampen the momentum and indicate further consolidation towards the 102.53 area (September 12, 2016 higher low).