Note that this bigger picture target is based off the May 2016 lows. If the larger pattern from the May low continues to unfold, then that does stand as a bigger picture upside target. If you go back to the recording of that segment, you will also see that I defined an important resistance hurdle that we would eventually face on the upside at the 118.62-121.29 area which is illustrated on the weekly chart below. Well price DID initially fail from that area and we STILL need to clear it IF the bigger picture target is ever going to be met.
So this is where I am currently in my AAPL analysis. The bigger picture work is still valid. In the shorter term, I have seen a new buy signal after the pull back into the 107-108 area of support that is illustrated on my daily chart below.
My traders should be long this stock with a stop either below the 12/5 low or below the 107.27 area. My initial upside target comes in at 113.61. My second target comes in at 115.07. Another target from the bigger picture swing into the 11/14 low comes in at 122.66. Bottom line, we're currently in a buy mode in AAPL. Our downside risk is clearly defined and so is our upside potential.