InvestingScope

Apple: Testing All Time Highs. Next Target $300-$350.

Long
NASDAQ:AAPL   Apple Inc
AAPL is a step closer this week to its $233.47 All Time High. The market is skeptical, investors proceed with caution on this Resistance especially since the 1W RSI is just above the 70.000 barrier, but should they?

History shows that every time the 1W (weekly) RSI of Apple Inc breaks 70.000 after after a specific sequence and following a Higher Low on the long term Channel Up that started in 2012, it moves on to new highs, specifically chasing to price a new Higher High within the Channel.

It is astonishing how the date range (time interval) of each of those times (when the RSI hit 70.000 after a Higher Low) is exactly 987 days. Assuming the lowest % increase out of the past 2 occurrences takes place (i.e. +145%), we have a Target Zone for Apple at $300 - $350.




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