Apple Inc. (NASDAQ:AAPL) has bottomed out and is heading for a 22% or more rally according to Tom DeMark on CNBC. Tom DeMark, founder of Market Studies and well respected ‘Market Timer’ said AAPL has reached a bottom. His exact bottom for AAPL was $494.50.
After hours trading reached as high as $491.20 (last checked) once Demark’s report hit the air. He expects a gap in the morning opening somewhere between $494 to $495 moving strong from there to $600+.
DeMark went on to say “tomorrow should produce a 13 which is the bottom” and “the market is exhausted”. According to Tom DeMark today or tomorrow marks the bottom for AAPL and a strong rally is expected.
Is Tom DeMark right have we really reached a bottom for Apple Inc. (NASDAQ:AAPL)? By Wednesday according to Denmark we should have our answer.
Disclosure: Share Holder