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AAPL: Reaching For Price Targets

Dec. 02, 2020 7:01 PM ETApple Inc. (AAPL)
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Seeking Alpha Analyst Since 2011


  • AAPL broke out of a converging triangle.
  • With high probability heading to $125.33.
  • Reaching next target of $137.97 depends on price action not yet confirmed.

After breaking out of a triangle, Apple (AAPL) stock has had 6 bull bars in a micro-channel (i.e. no pullbacks).  This is a very strong move up.   The first target is $125.33 and should be easily reached.

The next target is all-time-high at $137.97.  If we get to target 1 without significant pullback, then I will hold all shares with expectation of the 2nd target.

It should be noted that triangle is a trading range and once there is a confirmed breakout, there are usually two legs. We are still in the first leg up.

Overall, BULLISH and moving up.

AAPL Daily ChartAAPL Daily Chart, chart by Interactive Brokers TWS

Analyst's Disclosure: I am/we are long AAPL.

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