Oh, I’m likely to be praised by some and vilified by others for this post. No doubt there is a lot of passion and opinion when it comes to the Apple stock. I’ve been pretty much on target with my analysis, almost too good with it since it confirmed its double bottom back in July. From there I called the $510 price target as well as the pullback to the $450’s. Now it has bounced and while I think it will test $510 again, but I don’t think it will sell off sharply as before.
Instead I think it will consolidate some and then eventually breakthrough the resistance and push up to the mid-$540’s.
Here’s my technical analysis on the stock:
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