APPLE Strong buy on the 1D MA200 targeting $260.

Apple Inc. (AAPL) has been trading within a 2-year Channel Up and the recent correction since the December 26 All Time High (ATH) is its technical Bearish Leg. The price posted a strong rebound yesterday following a test of the 1D MA200 (orange trend-line), the first such contact since May 08 2024.

With the 1D RSI touching the oversold barrier (30.000) and rebounding, this is technically a strong buy opportunity at least for the medium-term, as it's not a direct Higher Low of the Channel Up.

Since December already completed a +59% rise from the April 19 2024 Low, we might be having technically a medium-term rebound similar to the October 26 2023 one that re-tested the High's Resistance (at the time). As you can see both corrections have hit the 0.618 Fibonacci level.

As a result, we treat this as a solid buy opportunity to target $260.

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