June 4, 2023 | $AAPL – Apple Computer (Last:180.95)
The post-covid bull market begun in the final quarter of 2020 is running out of room, at least on the daily chart. The 184,86 target shown, a Hidden Pivot resistance, is not the highest that can be projected, but it still looks capable of restraining the charge, if only for a short while. Sliding ‘A’ down to the 118.70 low recorded on March 4, 2021, produces an alternative high at 190.90, but we’ll wait to see how buyers handle D=184.86 before we raise our sights. To stretch your bullish imagination, but also to be on record with a seemingly outrageous forecast, let me introduce a 253.96 target with this weekly graph. We’ll be better able to make book if the stock exceeds 184.96 and stalls at the 189.07 midpoint. That would make 253.96 more plausible as an objective, especially if AAPL stabs through p=189.07 and closes above it the same week.
STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.
Rick Ackerman June 4th, 2023
Posted In: Rick's Picks
Next: The Great Awakening »