In the short term rising price channel, AAPL bumped up against the upper trend line and retracted back toward the 554/555 support level. If it can hold or dip down to fill the 548 gap and bounce off the lower trend line, then look for a resumption in the upward price movement toward the 694/696 price target.
From the long term weekly chart, it shows AAPL has bounced off the 50% retracement and moved above the 61.8% level. In the last couple weeks, AAPL has been testing the 78.6% Fib retracement. If the price can hold above 61.8% on any additional pull back, then AAPL could be making a move back to its ATH above 705.
Disclosure: Long AAPL Call option.
