Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Is Apple A Safe Haven These Days? Apple's Potential Target $550

|Includes:Apple Inc. (AAPL)

The past weeks we saw how apple is trading inverse with the markets. The daily chart is forming an inverse head and shoulders pattern.

These days apple is more like a safe haven. The past weeks I see that Apple is selling when the markets are going higher, and when the markets are going down apple is going higher. People take apple as a safe stock. Now the daily pattern is pointing out a potential inverse head and shoulders pattern. Is it time to buy apple already? No, I will wait until the pattern triggers. Upside target on apple will be $540.

Watch apple the coming days and see if we can close above the neckline! Stop loss on the trade will be a close below the neckline.

Kristof De Block

Stocks: AAPL