Apple Inc (NASDAQ: AAPL) Breaks Out Says Market Timer Frank Kollar
May 28, 2009 (FinancialWire) (By Frank Kollar)
Shares of Apple Inc (NASDAQ: AAPL) rallied again on Wednesday, May 27, and broke above their prior 2009 highs to close at $133.02. This occurred on a day that the Dow Industrials fell over 2%.
Only yesterday we wrote, “…a close above the prior highs would point to a run to the next resistance level at $142.41 a share in coming weeks.”
We now have $142.41 as the new target for this advance. A close above this level would forecast a run to at least $159.75 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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