Why Apple May Have More Upside (Unique Look)

Two weeks ago, at the 52 week low, I wrote an article on why I believed $AAPL would bounced. That call has been perfect. I was going through some of my old charts, and I noticed the chart below, which is Apple's weekly chart with discretionary Fibonacci Fan lines that I placed a few months ago. What is interesting, however, is, that without a doubt these Fibonnaci Fan Lines are definitely working. They do tell us something interesting though, when Apple does react properly to these lines of support, the bounce Apple receives is a good sizable one, therefore we may be seeing more upside here, another bullish confirmation.

I was also reviewing a few of my calls and I noticed I called a short term top on Google at the all time high. That call seems to be working perfectly as well. I guess we should look for money to flow back into Apple as it leaves Google. I will be doing an analysis between the two again. As the correlation I wrote about a few months ago, is no longer working.