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Apple (AAPL) Bottom In, Could Reach $600 'In Weeks' - Demark

January 16, 2013 10:46 AM EST Send to a Friend
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Is the Apple (Nasdaq: AAPL) bottom in? "Yes", according to Market Studies Tom DeMark.

On CNBC's Fast Money Tuesday evening, DeMark said the bottom for Apple was in fact in. So far he is right on the money, with share up 3.5% early Wednesday.

In what should be music to Apple investors ears, the technical analyst sees the stock surging 20% - not in years or months, but "weeks".

According to DeMark, "We wouldn't be surprised tomorrow to see Apple gap up above $494, $495 despite trading lower in the aftermarket today, and it will just move forward from there and be strong for the next couple of weeks and reach $600."

Importantly, DeMark turned bearish on Apple shares on Sept. 21st, near the top.




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Comments

Don't forget the Bupport
mOGU on 2013-01-16 11:23:21
Mark as Spam | Reply to this comment

As a super techncial analyst - (industry designation superTeCH), you must also look at the level of Fibonacci Autoregressive Tranche (FART) in the charts. The novice chartists do not look at the FART, but the best chartists do a lot of FART analysis also.


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