Apple (AAPL) technical preview for November 25, 2014

New closing high for AAPL on Monday as the continuation of last month’s 20% parabolic price move is going on. The short-term (daily) uptrend remains intact as long as price stays above $114,50. This price level could be used as the exit for long positions. Even though AAPL is clearly overextended here, opening shorts should be avoided now as we have to respect the ongoing uptrend.

AAPL, daily chart (2 months):

aapl

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

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