AAPL Reaches Our 620-30 Target Zone
by Mike Paulenoff
May 27, 2014 • 12:00 AM EDT
Last Tuesday, May 20, I added AAPL as a long position to our model portfolio in the 605 range, noting on the chart that AAPL has not concluded its major up-leg off the April 15 low at 511.33. I wrote that that the pattern projected "into the 620-30 target zone," which AAPL conveniently matched today, closing at 625.71.
My near-term work is getting increasingly overbought, suggesting that we should be prepared for a peak and a pullback in the hours ahead, perhaps well ahead of of next Monday's WWDC Conference, where Tim Cook could announce a new product or tease consumers with a new product (beside this morning's news that the company will turn the iPhone into a remote control platform), and perhaps well ahead of the June 9th split price date.
In a perfect technical set-up I will be looking to re-enter a long position into weakness into the 605-600 area prior to another up-leg that projects to 645--660 thereafter.
See our daily chart below from May 20, followed by today's updated 4-hour chart.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
Thirty minutes after the opening bell on November 24, 2025, I posted the following heads-up to MPTrader members about the technical setup in META:META has the right technical look of a significant U-Turn to the upside after completing a 27% August-November correction from 796.25 (8/15/25) to 580.32 (11/21/25)... To gain more powerful upside traction, META needs to climb and sustain above nearest-term resistance at 614.70 to 616.50, which if (when) taken out, will open a higher price pathway to the 670 area to challenge the down-sloping 200 DMA... Last is 609.27...
Last Friday morning, to calm frazzled nerves amid a 1% pre-market plunge that was threatening to complete a 100% give back of the prior week's 3.
Late on Friday, fellow MPTrader member MarkinQueens exclaimed: Mike's XOM (Exxon Mobil) chart from August is working! Last $117.26!Back on August 25th, this is what we discussed about Crude Oil and XOM:Just in case anyone is wondering what the chart of nearby Crude Oil is looking like as we approach the "official" end of summer.
On August 12, 2025, this was my response to an inquiry from an MPTrader member about intense weakness impacting SMR (NuScale Power Corp):SMR (NuScale Power)-- Fellow member Irv66 asked for an update on this modular nuclear reactor manufacturer that blasted-off from 11.08 in early April to 53.50 at the end of July (+382%), but has since been in the grasp of a major correction from 53.50 to 38.33 (-28.6%). My pattern work argues that SMR is nearing key support from 37.50 down to 33.
ARKK (ARK Innovation Fund, ETF)-- Back on August 20, 2025, this is what we discussed about ARKK:Fellow member Pawel has requested an update on Cathie Wood's fund, which in June thrust up and out of a 3-1/2 year base-accumulation period and pattern above 68.40/50 that subsequently climbed to my initial target in the vicinity of 80 (see my attached Daily Chart). Since the 7/21/25 high at 79.