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Apple (AAPL) Approaches New Upside Target of $141.40

By David Diaz

Shares of Apple (NASDAQ:AAPL) have bullishly opened above the pivot of $140.29 today and have reached the first resistance level of $140.70. Investors may be interested in a cross of the next upside pivot targets of $141.40 and $142.51.

Potential upside of 3.4% exists for Apple, based on a current level of $140.45 and analysts' average consensus price target of $145.29. The stock should find initial support at its 200-day moving average (MA) of $108.75 and further support at its 50-day MA of $104.04.

Apple share prices have moved between a 52-week high of $141.02 and a 52-week low of $89.47 and are now trading 57% above that low price at $140.45 per share. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Apple on November 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $111.91. Since that recommendation, shares of Apple have risen 25.1%. We continue to monitor AAPL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Apple

Ticker(s): AAPL