Here’s Why Apple Will Go to $180 in 2017

From Taki Tsaklanos: Apple Inc. (NASDAQ:AAPL) shares have broken out of a bearish technical pattern, and the stock now has a clear path to surge to all-time highs.

Apple has been struggling since last summer after it reached all-time highs at $130. Since then, the stock has made a series of lower highs, which, obviously, are defined as a bear market.

Not any longer though, as Apple has broken that chart pattern of lower highs.

Apple’s chart is a textbook example of how assets and stocks move:

• A series of lower highs form a descending trendline
• A previous top forms support
• All together, they form a triangle pattern on the chart

Apple is now ready to go much higher amid the continuation of the great stock bull market. We expect Apple to reach $180 (double its support) somewhere in 2017, unless a black swan pops up in the stock market.

Apple shares rose $0.27 (+0.25%) to $108.64 per share in premarket trading Tuesday. AAPL has gained 2.95% year-to-date, versus a 7% gain in the benchmark S&P 500.

This article is brought to you courtesy of Investing Haven.

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