AAPL about to break an important resistance price. If it breaks, then the upside is a $30 rise in price within the ext few months.
AAPL is in wave 5 on monthly charts. A trendline resistance is at 138 which is also 38.2 % fib extension level of EW wave !! Go short AAPL at 138 for levels of 101 and a next level of 90
On we go with the long term trend Price action has been a bit messy so ive pulled Fib levels from a couple of different areas and its amazing how price has been around them. Modified Shif is in there as a rough trend guide but I think that major Red Trend line is still in play, Nice but of indecision yesterday at around 106.30 don't forget Earnings coming up!!!...
Institutions are supporting AAPL because it is a lot stronger than the market, moving sideways instead of straight down. Price has to go to new highs in order for the big players to take profit.
Testing the 76.4 Fib Line Recent Break Back through the Bottom channel into the top Expect to test the Mid line of the Channel again soon. Probably tuesday Upcoming News expectations will be affecting Pricing. Should be testing $100 mark within the next week or two.
IDEA IS BASED ONA COMBINATION OF ELLIOT WAVE THEORY, MEDIAN LINE ANALYSIS AND FIBONACCI NUMBERS. THE RATIONALE BEHIND THIS SETUP IS SHOWN ON THE CHART. THIS IDEA IS NOT MEANT AS TRADING ADVICE. IF YOU ARE GOING TO USE THIS SETUP PLEASE DO SO AT YOUR OWN RISK.
Look the projection for 161 days, It's the same as april 2013