Apple stock continues to rally, $295 is the target! 100% in 2019

Over the last 14-weeks, Apple stock has had 2 red weeks, and they've been almost negligible. The stock is up nearly 80% this year alone!! We can see the stock gain 100% by the end of the year if this continues, especially around the holiday season. Since Apple is on all-time highs, the only instrument to help us with the potential upside target is the Fib extension, we've used two different levels to identify levels at which Apple may get attracted to and/or stall.

The first target level is $275 based on the Fib extension from the impulse that brought price up to this high.

The second target is $295 based on the Fib extension from the move that managed to drop price heavily in December 2018.

Where could a trader get in? The logical level is where the last slight pullback happened and the broken high at $240-$250 however that is pretty far from the current price, if the equity market does see a pullback then Apple may be more prone to retrace.

Disclaimer: This trade idea is for educational purposes exclusively, this does not constitute investment or trading advice. TRADEPRO Academy is not responsible for any market activity.