Apple Overextended, But Trend Remains Upward

 | Nov 25, 2014 04:46AM ET

New closing high for Apple (NASDAQ:AAPL) on Monday as last month’s 20% parabolic price move continues. The short-term (daily) uptrend remains intact as long as price stays above $114,50. This price level could be used as the exit for long positions. Even though AAPL is clearly overextended here, opening shorts should be avoided now as we have to respect the ongoing uptrend.h3 AAPL Daily (2 month):/h3