The stock closed above a key midpoint pivot for the second consecutive week, significantly shortening the odds that the 194.77 rally target will be achieved. It also set up a potentially appealing ‘mechanical’ buy if AAPL should surprise with a seeming kamikaze dive to the green line, x=161.27. We’ll find a way to cut the implied $4500 entry risk if and when the time comes, but for now let’s focus on the lesser charts for set-ups that can put us onboard with risk held to a practical minimum. _______ UPDATE (Apr 4, 10:08 p.m.): Buyers have blown past p and D, implying there is every likelihood the stock will hit D=185.56. The 194.77 target of a larger pattern given above remains valid as well. ______ UPDATE Apr 6, 11:35 p.m.): DaBoyz may let AAPL fall to as low as 158.97 before they pounce on it again. That would set up a no-brainer ‘mechanical’ buy, although we might attempt it with somewhat more risk at the red line, p=167.83, stop 161.92. Here’s the chart. Stay tuned to the chat room and switch on your ‘Notifications’ if you care.
AAPL – Apple Computer (Last:171.83)
