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Carl Icahn Helping Apple’s Dragon Slay the Bears

This is an update of the long-term analysis for Apple I did in this post.

On the monthly chart, below, you can see the dragonfly doji from April is in the process of being confirmed. I was looking for a weekly close above $465 as a first step in that process, and barring a meltdown it looks like Apple bulls are well on their way. The projected move is up to roughly $520.

However, I am a little concerned with how much play Apple is getting, not just with Carl Icahn but also in general. It is fascinating how quickly psychology might flip back to the old days of Apple rising every day. My sense is that the stock is still transitioning from its growth phase into a more value one.



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