Apple Correcting Now with Target $578 Early March
Apple (AAPL) had an interesting week. The stock surged higher initially, and then fell $40 off the high with a significant price reversal. This example of parabolic price action can be explained in mathematical terms as follows.
Apple started to correct last week, and further correction into the $470's area over the next week or so seems likely. The support levels in that area could be tested as shown on the chart. Once the correction is complete, then a spectacular parabolic vertical phase to the $578 level is targeted.
Parabolic tops occur at the end of long up trends, and mathematically examples of this price behaviour "do not end well". That is, price tends to collapse soon after topping.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- From the Very Creation of the Internet, U.S. Spy Agencies Fought to Block Encryption | ZeroHedge
- The Happiness Industry: How Government And Big Business Manipulate Your Moods For Profit | ZeroHedge
- How iTunes Destroyed The Music Business In 1 Simple Chart | ZeroHedge
- Chinese IPO 826 Times Oversubscribed | ZeroHedge
- There Is No Longer A Market: Citigroup Confirms What Zero Hedge Has Said Since 2009 | ZeroHedge
- The Big Four Economic Indicators: Real Retail Sales | Financial Sense
- Greek "Anti-Austerity" Wave Spreads In Dramatic Loss For Spanish Status Quo | ZeroHedge
The most relevant financial news and articles from the Internets
- George Lucas was scared to death to shoot this epic scene in ‘Attack of the Clones’ | Business Insider
- 17 mistakes everyone should make before they turn 30 | Business Insider
- One thing veterans want you to know about Memorial Day | Business Insider
- Nigeria's leading cellphone... | Business Insider
- Everything you need to know about the hottest stock on the market (SHAK) | Business Insider
- Hull relegated as Stoke ruin Gerrard farewell | Business Insider
- 2012 Honda CR-V | BusinessWeek