AAPL Poised For New Highs

If AAPL can break and hold above 120, we could see it soar to new highs. Watch for a bullish crossover of the MACD and PMO indicators and for the RSI to remain above the 50.00 level, as shown on the following Weekly chart.

Weekly AAPL

It's important that price hold above 110, as shown on the second Weekly chart below, as it represents a confluence of price and a 61.8% Fibonacci fanline major support level.

Weekly AAPL

Perhaps if AAPL executives can be persuaded to repatriate its considerable overseas cash to the U.S., in exchange for forgiveness of paying taxes on such a transaction by some kind of Congressional intervention (which includes, say, AAPL committing to invest in public infrastructure programs), you could see its stock break out to new highs next year. Maybe President-elect Trump's team can work some kind of magic in this regard.