Chart patterns point to Apple breakout, surge above $130

“Apple shares should lead indexes higher and, barring a market meltdown of sorts, the stock is poised to move higher through the rest of the month of January and through the remaining first quarter of the year,” Gordon Scott writes for Forbes.

“From a technical perspective five factors have appeared on the price chart for AAPL that make it a compelling buy between $110 and $115,” Scott writes. “The first is the fact that Apple shares recently bounced off of a 52-week linear-regression trendline. This indicates that despite the recent sell off in the market, for now, buyers still want to own this company and they expect the stock to continue its trajectory.”

Scott writes, “The second technical factor is a flag pattern on the weekly chart which indicates that should the stock resume its upward trend, it would have a price target of about $20 higher for the next two months.”

Read more in the full article here.

11 Comments

  1. Just like I said here last week to the dismay of the DDs – AAPL will rebound bery soon.

    All you idiot shorts and FUDruckers still don’t get it do you…?

    1. Apple will go up again, but not because of a dumb chart.

      If chart’s worked, you could make billions trading with an Excel spreadsheet and algorithmic trading companies in New York with warehouses of computing equipment and direct network access to the stock exchange have wasted their efforts by leaving easy money on the table for anyone to pick up.

      Would be nice if MDN stopped giving press to chart followers. They are just horoscope readers.

  2. Analcyst Rap:

    Bitch be indicating shit
    Fuck dat flag pattern
    Indexes crib it
    We be chaterin’

    Shit be up
    Shit be down
    I make stacks
    All over town

    Bloomberg

    1. For some reason I just envisioned Dr. Evil:

      I’m with it. I’m hip. Dukka-dukka, dukka-dukka, dukka-dukka, dukka-dukka, dukka-dukka, dukka-dukka, dukka-dukka, dukka-dukka, dukka-dukka, dukka-dukka, dukka-dukka, dukka-dukka, haa!

  3. $143 open morning after earnings announcement …. Trades up to $150-$151 beforing settling around $148 …..

    iPhone sales over 75 million and the watch looming investors will push stock up and new price targets in the $160-$180 range!

  4. I think all of these analysts who say things like “linear-regression trendline” and “flag pattern” will find that their voodoo applies less and less to AAPL, as Apple continues to increase in market cap. Apple’s stock is becoming its own “market” (like gold or oil), NOT an individual stock in a much larger market of stocks.

    Apple’s total stock value is probably already about 10% of the total value of the NASDAQ, if not more. AAPL is not going to behave like a typical stock where the total stock market can be considered infinite in comparison.

    However, as long as Apple continues to outperform in its execution (compared to its true competition) and expand into new markets intelligently (to take on new competition), AAPL will continue (on average) to rise steadily (in comparison to the rest of the market). But it now takes ANOTHER $650B+ in total investment for APPL to double in price; NOT going to happen just because AAPL is “bouncing” off some imaginary line.

    1. If their voodoo worked they wouldn’t be sharing that information, which effectively nullifies it.

      Nobody who has any special information on the stock market shares it, they make money with it.

  5. Apple will go up whenever some key players start to buy in and the crowd will follow. What will trigger this I’m not sure. Earnings? Maybe. Will Wall Street be disappointed by falling iPad sales? I’m hoping for a gradual climb back to $120 or so and I’m not looking beyond that. Apple’s share price will not likely be in proportion to increased revenue. I’d be very surprised and happy if Apple’s P/E goes slightly higher than Microsoft’s P/E.

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