Friday, November 9, 2012

Apple (AAPL) rallies this morning

NOV09 0733PST. A follow-up to this morning's post on Apple (AAPL). The security has broken through the resistance at $540 described earlier, and it is now consolidating underneath resistance at $547 from another 3-day channel.

Given today's strong rally thus far, the $547 resistance may be quick to break. In such an event, the next forecast resistance is at approximately $556-557 -- the bottom of the three-week price channel mentioned in today's earlier post.

AAPL. Past 3 days. 1-minute candles.