- Technical Analysis -

December 15, 2009 (FinancialWire) (By Frank Kollar) — Shares of Apple Inc (NASDAQ: AAPL) have created a pennant formation since reaching new 2009 highs back on October 21.

Pennants are created when rallies reach ever lower highs (October 21 and November 16) and declines reach ever higher lows (November 3 and December 8). By drawing a line through these highs and lows, and extending them out into the future, they eventually connect.

This creates an ever tightening trading range as the declining resistance line and rising support line draw closer together. Typically, when stock prices break out of a pennant pattern, either to the upside or downside, prices continue in the direction of the break.

A close above $106, or below $189, should indicate near term direction of prices for Apple. And these upper and lower levels are drawing closer every trading day.

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

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.

Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). Recently issued reports and filings include Bravo Venture Group Inc. (TSX Venture: BVG), Bellway PLC (London Stock Exchange: BWY) (OTC: BLWYF), Chase Corp. (AMEX: CCF), Continental Materials Corp. (AMEX: CUO), Amcon Distributing Company (AMEX: DIT), Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), Majedie Investments PLC (London Stock Exchange: MAJE), Morgan Stanley Income Securities, Inc. (NYSE: ICB), Grainger PLC (London Stock Exchange: GRI) (OTC: GRTGF), Eaton Vance Insured Municipal Bond Fund (AMEX: EIM), PIMCO High Income Fund (NYSE: PHK) and Shaw Communications, Inc. (NYSE: SJR).

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