Well, I don't really have much to say other than I hope everyone is being careful right now. If you switch apple to a monthly chart, it gets even more ridiculous. It took 38 years to reach a 1 trillion market cap but just two years to reach a 2 trillion market cap.
I think we will see apple go to the 2.618 retracement level of $515 before the pullback starts. We have a nice big gap that could be filled and bring it down to $385. I am looking for a break through the upper trendline that is acting as support from the march lows. The MACD was showing weakening momentum until it popped higher and the RSI is showing an overbought signal. Is this a new bull market or are we in a Fed fueled bubble? I'll let you decide.
As always, I am not a financial advisor and this is not financial advice. Do your own research and formulate your own theories. Good Luck!
I think we will see apple go to the 2.618 retracement level of $515 before the pullback starts. We have a nice big gap that could be filled and bring it down to $385. I am looking for a break through the upper trendline that is acting as support from the march lows. The MACD was showing weakening momentum until it popped higher and the RSI is showing an overbought signal. Is this a new bull market or are we in a Fed fueled bubble? I'll let you decide.
As always, I am not a financial advisor and this is not financial advice. Do your own research and formulate your own theories. Good Luck!