China Mobile and Apple could not ink a deal until Apple offered an iPhone under $100, and Apple had it's supply chain and production ready to take on the new demand. Well with today's announcement we have one of those deal makers announced >> The 6Gb iPhone for $99. The only worry now, is Apple iPhone production ready to meet new demand from China Mobile 300 million users? Last year Apple had many production snags with the US demand for iPhones. If we don't see any disruption with online orders and store orders this year, we could see a China Mobile deal announced by mid October or sooner.
The Apple chart is a bit complicated. We have a rare double inverted head and shoulder pattern with a strong descending primary neckline. With two heads we see two necklines and two measured breakouts. The Secondary neckline proved to be support for the shoulders and resistance for the double heads. As of right now we are waiting to see production and demand for new iPhones. If don't see any glitches in production like we saw last year, Apple will most likely breakout from the descending neckline resistance and reach our first target at $542. I expect to see a few days to a week resistance before we test our next Target at $585. This is also the middle of our total expected breakout at $585 from the low later this month/early October at $484. At $585 I expect a bit more resistance and then we can zoom to $628 before we stall again. The final push may come late this year to early next year at $685. I also added @nmike clones which also works well with the Double Head and Shoulder Pattern and fibonacci levels as seen in the charts.
I will devising an option plan in a few days on how to maximize your gains with Apple options. Looking for one of those rare 300+ baggers