With Apple (AAPL) above $280, many are wondering how much higher it can go from here. Purely from a technical perspective, both the measured upmove off of the July-September base formation and the Aug-Sep bullish price channel point to 295.00, with overshoot to 298.00-300.00.

Can Apple climb still higher? Sure it can, but the technical work is warning us that we have reasons to suspect that the next 1% to 3% will represent the final upticks of the current advance prior to a meaningful correction.

 

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.