Some Technicals on AAPL

3 Des 2013

I bought AAPL after the Fibonacci Retracement breakout back in October. Retracements work well here since the top last year. Apple recently broke another retracement last week after a consolidation period. Although volume wasn't really high on these breakouts, I still see a short term run here with a stop loss at $531. My price target is $580; not sure if it will break. A test at $580 could also coincide with earnings release (time will tell). Also a bullish MA crossover back in September following a double bottom. I haven't use Fibonnaci Retracements on a stock before, any feedback?