Apple Inc (NASDAQ: AAPL) Tests Prior Highs Says Market Timer Frank Kollar
May 27, 2009 (FinancialWire) (By Frank Kollar)
Shares of Apple Inc (NASDAQ: AAPL) rallied on Tuesday, May 26 and are testing their prior 2009 highs.
In early May, Apple reached $132.71. Since then it has pulled back as has the entire stock market after a three month advance.
How high can Apple go? A close above the prior highs would point to a run to the next resistance level at $142.41 a share in coming weeks.
The http://www.fibtimer.com Stock Strategy has a position in Apple.
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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