Apple (AAPL) Rebounded from Key Support and Recorded Its Largest
Keeping things simple on AAPL this week:
As seen from the weekly chart of AAPL, the price staged a notable rebound from key support at $174.03 in the second half of August. This move not only shone a light on the all-time high of $198.23 as a viable upside objective but it was also accompanied by a H4 inverted head and shoulders pattern ( $176.55 $171.96 $175.82).
Visible from the H4 chart, thanks to price clearing the pattern’s neckline taken from the high of 180.92, there is scope to climb until reaching the inverted H&S pattern profit objective at $191.24. This means further buying could be seen in early trading this week, with subsequent bullish flow north of $191.24 likely to welcome breakout buyers, targeting the all-time high of $198.23.
As seen from the weekly chart of AAPL, the price staged a notable rebound from key support at $174.03 in the second half of August. This move not only shone a light on the all-time high of $198.23 as a viable upside objective but it was also accompanied by a H4 inverted head and shoulders pattern ( $176.55 $171.96 $175.82).
Visible from the H4 chart, thanks to price clearing the pattern’s neckline taken from the high of 180.92, there is scope to climb until reaching the inverted H&S pattern profit objective at $191.24. This means further buying could be seen in early trading this week, with subsequent bullish flow north of $191.24 likely to welcome breakout buyers, targeting the all-time high of $198.23.