Apple recently rose sharply above the buy target 550.00 that was set in our previous technical analysis report for this company. The breakout of this buy target was preceded by the breakout of the daily down channel which has enclosed the earlier intermediate correction (2).
The breakout of 550.00 coincided with the breakout of the upper resistance trendline of the daily Triangle from December of last year and led to the breakout of the major resistance 570.00 (top of earlier primary wave ①). Apple is set to rise to the next buy target 600.00 – followed by 620.00.
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