Price action is now on the 4 - 5 wave of Elliot Impulse wave up (on Monthly Time Frame) and way overbought at this time. I see like all big TECH companies a bearish market for rest of year (see Facebook). In my opinion Apple will be bearish at this time and drop back down to $150.00 by end of year.
Think about two issues: Price action is at all time highs and on Fib. Extension price action is at the three times value. I do not see price action hitting $200 because the big market movers will keep price action lower related to being a great number for people that have stock to get out at. If I had apple stock would be selling all of it on Monday the 30th and either play put/bear credit spreads and/or find another stock to invest in at this time.
Think about two issues: Price action is at all time highs and on Fib. Extension price action is at the three times value. I do not see price action hitting $200 because the big market movers will keep price action lower related to being a great number for people that have stock to get out at. If I had apple stock would be selling all of it on Monday the 30th and either play put/bear credit spreads and/or find another stock to invest in at this time.