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Allan Harris
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Developer, Chief Strategist and Head Writer of AllanTrends.com, a trading service based upon a proprietary algorithm that identifies the dominant trend of any stock, index or ETF.
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  • AAPL: Ripe For A Wave 4 Retracement 2 comments
    Sep 17, 2012 11:03 AM | about stocks: AAPL

    I love my iPhone, but AAPL is making new highs against a divergence in it's Elliott Oscillator making it ripe for a Wave 4 retracement. In this case, the divergence appears on AAPL's weekly chart and the target zone for a completed Wave 4 is $550-600. I am monitoring the Daily Trend Models for a reversal for Long to Short. If and when that happens, the set up appearing on the chart below will be triggered.

    (click to enlarge)

    Disclosure: I am long AAPL.

    Stocks: AAPL
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  • Joe Razorback
    , contributor
    Comments (281) | Send Message
     
    I agree. Looking like it might hit $740 then pullback. Maybe post earnings?
    17 Sep 2012, 06:33 PM Reply Like
  • Allan Harris
    , contributor
    Comments (146) | Send Message
     
    Author’s reply » I'll leave the fundamentals to others, but you may be right. AAPL is leading the financial news almost every hour, Reminds of the QCOM days of the late 90's. Note the similarities: http://bit.ly/PmfGYL
    17 Sep 2012, 06:58 PM Reply Like
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