“As of today, I have been inundated with emails asking if the bottom is in now. And, believe it or not, it may not be in just yet,” Gilburt writes. “In fact, there is still a pattern which can take it back down to the Fibonacci extension at the 500 level for a final bottom. It would mean that AAPL may yet still rally as high as the 575 region and drop one more time to the 500 level.”
Gilburt writes, “However, if AAPL is able to move beyond the 576 level with strong volume, then it becomes a very strong probability that this last bottom was the bottom, with the expectation for new highs yet to come in early 2013.”
Read more in the full article here.
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