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AAPL Follows the Technical Script...


Below is what we discussed last Friday, and so far, Apple Inc. (AAPL) is following the bullish script, popping above near-term resistance at 95.20-96.00, in route to 98, and then possibly 100-102 thereafter.

At this juncture, only a decline beneath 95.00 will derail the potent recovery rally. MJP 5/23/16

Increasingly, all of the action in AAPL off of its May 13 low at 89.00 has the right look of the completion of the entire corrective leg from the April 14 high at 112.39. The form and structure of the May advance from 89.00 to today's recovery rally high at 95.20 argues strongly that AAPL is in the midst of an incomplete counter trend rally period that projects into the 102-105 target zone. That said, however, AAPL must grind its way above 95.20-96.00 resistance to trigger secondary powerful buy signals. At this juncture, only a decline that breaks 93.00-92.20 support will compromise my current outlook. MJP 5/20/16

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