In a previous update for Apple (AAPL), I reviewed its probable long-term prospects. Apple has had a lengthy, sideways correction over the last several weeks in the mid $140 price range. So is the correction over? What are upside price targets? What about a bad earnings report currently scheduled for August 1, 2017?
Let's get some answers to those questions and more! Its time to dive into the charts!
Apple (AAPL) - Weekly Analysis
This first chart for Apple (AAPL) is a 2 year weekly candlestick chart. The Fibonacci Extension Tool I've placed on the chart illustrates that AAPL has already reached the Golden Ratio of its uptrend. The Golden Ratio is represented by the 161.8% Target Line.
But I still think there is more upside for Apple's share price. But before it does reach higher, there may be one more pullback. The trendlines and re-test of the previous resistance area indicate a possible pullback all the way to the $133 area.
With a bad earnings report, Apple's share price could even push down towards the $…...
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I review support areas for Apple's share price in case of an earnings miss. I also review upside price targets using Elliott Wave analysis.
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