July 22, 2009 (FinancialWire) (By Frank Kollar) — Shares of Apple Inc (NASDAQ: AAPL) rallied in after hours trading after announcing a better than expected third-quarter profit; up 15% from the same quarter a year ago.

Apple had traded lower in intra-day trading, but the announcement set shares on fire.

How high can Apple go? Apple closed above the 50% retracement resistance level at $139.96 on May 29 and for the next six weeks, $139.96 acted as support as Apple moved mostly sideways.

Apple began its latest rally on July 8 and on Friday, July 17, Apple closed above the 61.8% critical resistance level at $148.48.

That close sets the stage for a run to at least the prior 2008 highs at $188 a share.

The http://www.fibtimer.com Stock Strategy has a position in Apple.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.