Apple (AAPL) technical preview for November 26, 2014

AAPL share price reversed significantly down from an intraday record high of 119,75 down to 117,60. Such price behavior has been uncommon for the stock during the last 2 months as we have witnessed a 20% parabolic price increase and new record closes day after day. The short-term (daily) uptrend remains intact, though, as long as price stays above $115. This price level could be used as the exit for long positions. We will likely see some consolidation or moderate drop in the next few days, before new all time high levels are targeted.

AAPL, daily chart (2 months):

aapl2

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

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