Calling the Turns in AAPL
by Mike Paulenoff
July 18, 2014 • 4:16 PM EDT
On June 30, with AAPL at 92.55, we noted that equity managers would see quarter-end pressure to show long exposure to Apple (AAPL). “After all,” we said, “since April 1, AAPL is up 20%, so perhaps we should expect upward pressure on AAPL today into the start of Q3.”
Apart from quarter-end considerations, we noted that AAPL purely from a technical perspective had the right look of completing a correction from 95.05 to 89.65, and starting a new up-leg that should be heading for new highs projected into the 97.20/60 area next.
That’s exactly where AAPL hit this week, at the pre-open on Wed July 16, peaking at 97.96.
We also noted on Jun 30 that a break of 95.00 would confirm the establishment of a near-term peak of the April-July up-leg, and AAPL on Thursday this week sliced beneath its key April-July support line at 94.70, closing at 93.09.
Barring a recovery that sustains above 95.00, my work points to more weakness into the 91.00-89.50 target zone ahead of next Tuesday evening’s (Jul 22) earnings report.
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
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.
Nearly two months ago, I posted my technical setup on TMO (Thermo Fisher Scientific, Inc.) to alert MPTrader members to a potentially significant upside reversal pattern. Here is my commentary from June 3, 2025:My attached Big Picture Daily Chart shows the major bear phase from the 9/10/24 ATH at 627.88 to last week's (5/23/25) low at 390.66 (-38%). Most interestingly, all of the price action from the 4/09/25 low at 409.
