Can Apple Inc (NASDAQ: AAPL) Shares Break Out? Asks Market Timer Frank Kollar
August 21, 2008 (FinancialWire) (By Frank Kollar)
Last week, shares of Apple Inc (NASDAQ: AAPL) reached strong resistance at the $177.50-$180.00 level and pulled back.
Apple must clear this resistance in coming days if it is to mount a run for its prior rally highs at $192 a share. Watch for a close above $177.50 and then the round number at $180 a share. If Apple can push above them it will test its recent highs in short order.
After this is the $200 level for Apple shares, but to reach it Apple will need help not only from those who are bullish on its shares, but also from the rest of the stock market that needs to advance and help support such a rally.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
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