Apple (AAPL) Outlook For October 31, 2014

Limited volatility and doji candle for AAPL yesterday, at record price levels. The daily trend is up as long as price trades higher than $104. The general market strength, especially Nasdaq’s strength helps, too. The breakout from the 98-103 range sets $108 as price target of this wave up. The stock is a bit overextended in the short term and may need to rest here a bit before advancing further.

AAPL, daily chart (3 months):

aapl31

Chart courtesy of StockCharts.com. http://stockcharts.com

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