Anticipating AAPL's Takeout of 11/9 Rally High
by Mike Paulenoff
December 20, 2020 • 11:27 AM EST
On Tuesday morning, December 8, with AAPL trading in pre-market action at 124.64, Mike Paulenoff told MPTrader members to watch for more upside:
"AAPL is following a similar, if less exciting post-coil breakout price path than did TSLA one month ago. My attached 4-hour chart shows that since the end of the Sep-Nov coil formation at 112.59 on 11/24, AAPL has stair-stepped to the upside to this AM's pre-open high at 124.96 (+11% so far), in route to a challenge of the 11/09 rally high at 127.32, which if taken out, will point to new all-time highs projected to 140-142."
During the subsequent 9 trading days, AAPL's emergence and upside continuation from the Sep-Nov bllish coil formation morphed into a new upleg that took out the 11/09 rally high at 127.32, and thereafter, climbed to a 129.58 high last Thursday afternoon (12/17), a gain of 4% since Mike's 12/08 technical update to MPTrader members.
What next for AAPL? Will it hold support at 123-125, and continue higher to a full-fledged test of the September all-time high at 138.55? Will US-China trade policy in the waning days of the Trump Administration compromise Apple's business prospects, or enhance them?
Join Mike at MPTrader as he and our members closely monitor AAPL's price path and backstory to determine if the stock "has the right stuff" to make a run at new highs before year-end.
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
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.
On July 31, 2025, with SLV (Silver ETF) trading at 33.27, this is what we discussed about my technical setup:SLV-- On the subject of tariffs, copper, and silver, Trump extended the tariff deal with Mexico for 90 days, which included steel and copper, but NO MENTION of Silver (so far). Let's notice on my attached 4-Hour chart of SLV that the week-long nosedive from 35.91 to this AM's low at 33.
On February 18, 2025, this is what I posted on MPTrader about KWEB (Chinese Internet ETF) that alerted traders to a potentially explosive setup that should keep KWEB on our radar screens going forward :My attached Daily Chart shows that KWEB is attempting to emerge from a huge, three-year rounded base-accumulation setup that projects much higher prices as the price structure climbs the "recovery wall of worry" in the aftermath of the relentless bear phase from the February 2021 ATH at 104.
On July 29, 2025, this is what we discussed about TEVA (Teva Pharma), accompanied by my then-current 4-Hour Chart, just ahead of Earnings:My attached 4-Hour Chart setup argues that TEVA is poised for upside continuation of its April-May advance (12.47 to 18.67) EITHER right from current levels in reaction to a positive Earnings Report tomorrow morning, OR into a BTD bout of weakness into the 14.85-15.55 target support window.
On the morning of August 6th, I posted the chart below after seeing Fundstrat's Tom Lee discuss his CEO position in BMNR (BitMine Immersion Technologies), and the fact that BMNR was accumulating a large cache of Ethereum (ETH) that will serve as an ETH Treasury holding similar to the Bitcoin model used by Microstrategy's Michael Saylor. At the time, BNMR had climbed from 31.85 to 33.70, which piqued my attention technically:"BNMR ... once again is putting upward pressure on the 34.
