It has been a significant run for Apple since the February highs and March lows and relentlessly moving up to its all time high at $399.82, which is close to the $400 psychological mark.
Using the Fibonacci indicator as a guideline, it was close to its 161.8% mark and started to retrace back to the 150% mark. If it starts to consolidate at this range, it might position itself for a higher up move. Looking at the recent market moves in Nasdaq, the consolidation range might be touching $371 which is at the 138.2% mark.
Long term trend is still up.
* I do not own any Apple shares currently.
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