Oppenheimer’s head technical analyst sees Apple headed back to $700 all-time high

“Apple Inc.’s breakout above $600 a share has piqued the interest of bullish chart watchers, with Oppenheimer’s head technician Ari Wald suggesting a return to record highs — about 16% above current levels — may be on the horizon,” Tomi Kilgore reports for The Wall Street Journal.

“The stock yesterday closed at $604.59, its highest level since October 2012. Shares were up again slightly in morning trading Tuesday, to $604.78,” Kilgore reports. “Apple’s rise above resistance at $600 — the stock had peaked briefly around that level earlier this month — leaves the path pretty clear from a technical-analysis standpoint until the next resistance at the $650 pivot level, Mr. Wald said.”

“Above $650, the next key chart point to watch is the Sept. 19, 2012 record closing high of $702.10, Mr. Wald said, which is 16% above current levels,” Kilgore reports. “‘I’m playing for a test of its all-time high around $700,’ Mr. Wald said. ‘Once you get to new highs, you reevaluate.'”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]


  1. With the upcoming 7-for-1 stock split, Apple made the ALL TIME HIGH goal a nice and clear $100 a share. The stock split “record date” (June 2) just happens to be the same day as the WWDC keynote, where some “key” announcements will no doubt be “noted.” Barring some general market downturn, I expect to start seeing MDN’s “Apple shares hit all-time high” headlines once again, starting in June.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.