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.
- Was this Apple’s $20 billion quarter?
- Did Apple sell 4 million Macs?
- How hot was the iPhone in Q4?
- How many iPads has Apple really sold?
[Follow Philip Elmer-DeWitt on Twitter @philiped]