ChartArt
Long

Apple - New All Time High or Double Top?

NASDAQ:AAPL   Apple Inc
Apple             is at the crossroads between reaching a new all time high or facing a larger pullback. I highlighted in blue some interesting correlations with the Fibonacci circle (which connects the all time high of 2012 with the start of the rally in 2014). Some traders want to avoid the double top risk and are starting to sell before $100.00 is reached and then plan to re-enter above $100, so keep in mind that the road to above $100 is going to be tough.

My long target from a few days ago has been reached already (see "related ideas" below).

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UPDATE:
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I was right with being bullish and tagging this chart as "long" when I created it 25 days ago. Apple             made a breakout above the last all-time-high from 2012 and made a new all-time-high in 2014. The candle closed right above my Fibonacci circle:
snapshot
November 16, 2014, week 46

The Apple chart is in an interesting area after a strong breakout rally:

snapshot
Reply
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UPDATE:

I was right with being bullish and tagging this chart as "long" when I created it 25 days ago. Apple made a breakout above the last all-time-high from 2012 and made a new all-time-high in 2014. The candle closed right above my Fibonacci circle:

snapshot

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Reply
Apple peaked exactly at the Fibonacci circle. This Fibonacci circle is based on two historical data points: the last low of 2014-04-21 and the last all-time-high from 2012-09-17.

snapshot


snapshot
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