- Analysis -

December 29, 2009 (FinancialWire) (By Frank Kollar) — Last week we wrote; “Apple has had two rallies since October with lower intra-day highs in the second one. The first reached $208.71 on Oct 21 and the second reached $208 on November 16. Draw a line through these highs and you have a declining trend resistance line. Apple is headed for the declining trend resistance line which is at about $206 as of Wednesday’s December 23 close.”

On December 24 Apple gapped up at the open, rallied all day and closed above this declining resistance line. Such rallies are typical of Apple which has a huge following, not only among computer users, but investors too. Rallies are typically strong as traders pile into this stock when they feel new highs are imminent.

On Monday December 28 Apple continued to advance closing at $211.61.

The new short term target for Apple is now $222.76. Should this level be surpassed, Apple could move all the way to $261.60 in coming months.

Disclosure: The http://www.fibtimer.com Stock Strategy has a position in Apple Inc.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

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