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Shares had closed at three all-time record highs in as many trading days, but with Apple (AAPL) expected to announce strong fiscal fourth quarter earnings Monday, this could be a dangerous time to short the stock.

Fly On the Wall‘s take:

Additional upside objectives, based on a scaled range, may be at the following levels: $307.17, $313.32, $319.58. A move back below $300 would not necessarily be bearish as long as the stock can manage a close near or above it today.

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[Follow Philip Elmer-DeWitt on Twitter @philiped]