Apple Inc overbought?

Hong Kong, Hong Kong SAR -November 08, 2014:A busy Apple Store in Hong Kong located inside IFC shopping mall, Hong Kong.

Apple stock may now be overbought and primed for a correction, says Peter Lee at UBS. The steady rally since Q2 2016 and a break above 134.54 means a potential longer-term target of 179-180. However, a consolidation phase could set in before then as overbought conditions prevail. This could mean a target of 138-141 or even 123-125 (the 30-week MA) in the meantime.

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