I pulled some of that Fibonacci voodoo that we do on Apple and if the uptrend support does break around $96, Apple is headed into the lower 80’s. I did a video for CNBC.com and they tore me to shreds in the comments section. The last time I got this kind of reaction was when I said oil is headed towards $26.00 while trading $41 at the time.
Todd Gordon
President/Founder
TradingAnalysis.com
2 Comments
You’re an optimist. I have AAPL going to $52-$56 eventually based on Elliot Wave and Fibonacci analysis of the rise from 2003. AAPL is a great company. It isn’t a great stock any longer. Fire away.
Ha – well I did mention in the video we could move down the 50 area. As a few fellow wave surfer I’m sure we’re looking at the same thing! I figured I would focus on the A=C semi-log level from the summer high and give them the measured move into the lows 80’s. Didn’t focus too much on the 161% projection into the 50’s because I was sure someone would send me ricin in an envelope or something like that.