Apple Inc (NASDAQ:
AAPL) At All-Time Closing High Says Market Timer Frank
Kollar
November 17, 2009 (FinancialWire) (By Frank Kollar)
Shares of Apple Inc (NASDAQ: AAPL) have erased their late
October losses and on Monday, November 17, closed at a
new rally and new all-time high.
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.”
After the October correction, prices have rallied almost
without let up and Monday’s new high, while not a
new intra-day trading high was, more importantly, a new
closing high.
This forecasts higher highs ahead for this widely followed
and heavily traded computer stock.
The next resistance level for Apple is at $214.89 and
shares should reach this in coming weeks. If surpassed,
Apple could run all the way to $236 a share in coming months
before again 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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