The top of the T2 target zone on AAPL has now been hit. As there are over 30 daily charts alone on AAPL since originally shorting it back on Aug 27th at 679.99 (plus numerous charts on other time frames), I have just included the first daily chart that was posted after the close on Friday, Aug 24th (with the short entry to be at the open on the following Monday) along with the updated chart. Remember, not only was AAPL solid case made to short AAPL at the end of Aug just points off the highs when the analysts were tripping over each other to "one-up" the last guy's price target that was already well into the 4 figure level, but this final target zone was also added to the stock back then, before the trade was entered and not after the stock had already fallen 20%+ and suddenly all of the AAPL bears started crawling out of the woodwork. To be clear, this is not an update to the trade as I had decided to close the AAPL short when the first target was hit, reversing it to a long right off the lows on Nov 16th, then exited the long for a nice gain on the quick bounce. Although my original intention was to re-enter the trade after the expected bounce off T1 and ride it back down to T2, I never "felt" a clear and objective entry so have just watched the stock since then.
I just wanted to update the chart since it has been a while and not only is AAPL still one of, if not the most widely followed stocks in the world but also because the AAPL could provide an objective long entry soon. Although the stock could quite likely find support here at the top of my target zone, I believe the odds favor the stock moving lower towards the bottom of the zone (410) before all is said and done. If I am wrong, fine. There are plenty of other fish to fry and even if AAPL were to find support and bounce from this level, there are many other trades out there offering a much more attractive return potential IMO. With that being said, here's the original daily chart for the short, followed by today's updated chart. The entire string of daily charts for the previous short and long trades can be viewed by clicking here.