Apple is introducing details on the new iwatch today.
I wanted to update the long-term chart I started sharing on Apple a couple of months ago when Apple was trading at $109. At the time the Power of the Pattern suggested that Apple’s target price was $150.
Where did $150 come from? It is a price point where the 30-year rising channel and a Fibonacci 161% extension level both meet.
The $150 target is about 18% above current prices. Let’s see if the Apple watch in the chart above is correct on the price of Apple some time in the future!