Apple Inc (NASDAQ: AAPL) Nears All-Time
Highs Says Market Timer Frank Kollar
September 22, 2009 (FinancialWire) (By
Frank Kollar)
Shares of Apple Inc (NASDAQ: AAPL) are
approaching their all-time highs which are likely to be
do-or-die levels for this widely followed tech stock.
Apple’s
2008 rally high was $192. Apple closed on Monday, September
21 at $184.02, only 4% from this critical resistance
level.
To add to the
concerns, Apple’s
2007 high, and all time high, is at $200 a share, only
4.2% higher.
Apple is in a strong uptrend and no
one can tell just how far such a trend will go. Usually
it is much further than anyone guesses. But these highs
are critical and must be surpassed for this strong uptrend
to continue.
A reversal at or near $192 can be traded
with a short sale and buy-stop just above this $192. But
be careful with shares of Apple. There are a lot of traders
who love this stock. A close above either of these highs
could result in some fast gains in very short order.
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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for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
