Shares of Apple Inc (NASDAQ: AAPL) Rally Says Market Timer Frank Kollar
October 20, 2009 (FinancialWire) (By Frank Kollar)
Shares of Apple Inc (NASDAQ: AAPL) rallied in after-market
trading on Monday, October 19.
A month ago we wrote: “Apple is approaching their
all-time highs which are likely to be do-or-die levels
for this widely followed tech stock.”
Apple’s fourth quarter earnings increase of +46%,
topping all forecasts, were the fuel to push shares higher
as traders jumped onboard this quickly rising stock on
Monday.
Apple has been in a strong uptrend since its bear market
lows back in March 2009.
Apple now faces several huge resistance levels just ahead.
The first is at $192.32 where shares peaked last week as
well as in 2008. The second is at $202.96 where shares
peaked in 2007. The 2007 highs were all-time highs.
Should shares top the 202.96 level, Apple could run all
the way to $236 a share in coming months before hitting
resistance.
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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