Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Apple’s Upside Target

Published 04/27/2015, 10:43 AM
Updated 07/09/2023, 06:31 AM

All-Time Weekly Closing High

Apple (NASDAQ:AAPL) finished last week at an all-time weekly closing high at (1) in the chart above. The stock recently broke above its 4-year rising channel, came back to test old resistance then pushed higher, setting this new record high.

Last November, when Apple was trading below $110 per share, the Power of the Pattern shared that Apple’s upside target stood at $150.

Below is a long-term update on Apple

Apple Long Term

Apple has remained inside a rising channel (1) for the past 30 years. I applied Fibonacci to the 2008 lows and 2012 highs and the first Fibonacci extension level comes into play at $150, which also happens to be the top of rising channel (1).

On a percentage basis, dual resistance, which should be respected, comes into play around 15% above current levels.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.