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 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.