AAPL update: bull flag forming!? Targeting $150s

In my earlier update on AAPL I already showed that a trade below the $123.36 made on May 6 meant minor 4 was ongoing. See here. This call was correct, and the possible bull count was incorrect as AAPL bottomed last week at $119.22 and has since gained almost 7% in  less than a week. This suggest the minor 4 low may well be in. Looking at the bigger picture first we see that AAPL lost the long term trend line in place since April 2014, but has now regained it. In addition, we see a possible bull flag forming. The pattern would targeting low $150s, which is in line with the earlier update.

Intelligent Investing celebrates its one year anniversary with a 1 month free trial period special*. You can cancel at any time during the trail period at not cost. Please sign up here

AAPL update 7152015


Looking at the daily chart, we can see the bull flag pattern in more detail and how price is now above the 20d SMA as well as back above the green trendline. This is needed to allow more upside for price.


AAPL update 7152015b

*After the one month free trial period, membership will automatically roll over into a monthly subscription of $24.99/month, unless canceled prior at any time and at no cost within the 30 day trial period.

Leave a Reply